Archive for December, 2009
Tuesday, December 29th, 2009
Posted To: MND NewsWireThe holiday rally is extending as equities look to continue climbing for a seventh consecutive day. One hours before the open, S&P 500 futures are up 3.25 points to 1,126.25. Commodities are mixed with copper hitting a 15-month high ― $7,250 a metric ton at 10:25 a.m. ...
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Monday, December 28th, 2009
Posted To: MBS CommentaryI just wanted to add my two cents into the "grade the auction" requests AQ received earlier while I was nobly battling a nasty little holiday stomach virus my son was kind enough to bring home (and losing miserably). You see, I think that the stomach virus ...
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Monday, December 28th, 2009
Posted To: MBS CommentaryTreasury has just auctioned $44 billion 2 yr notes. The high yield was slightly above the 1pm current market bid ("when issued"), stopping out at 1.089%. The bid to cover ratio was 2.91 , which means 1 award for every 2.91 bids. The bid to cover ratios ...
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Monday, December 28th, 2009
Posted To: Mortgage Rate WatchMortgage rates took a beating last week. Even the most aggressive lenders are now creeping towards 5.00% (for WELL-QUALIFIED borrowers). During the course of the holiday shortened work week, benchmark Treasury note yields rose persistently which lead mortgage backed security prices lower and forced lenders to ...
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Monday, December 28th, 2009
Posted To: Community CommentaryMy post last week, "The Evolution of Origination Processes and Lender Operations Models" , sparked some enlightening comments. It appears the "assembly line" approach is not as prevalent as I expected, at least not at the origination level. As some of you pointed out technology has assisted ...
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Monday, December 28th, 2009
Posted To: Pipeline PressMI rescission issues plaguing your company? MGIC, and their shareholders, received coal in its stocking after the news came out that it was being sued by Bank of America's mortgage unit in a dispute over claims . The suit alleges that MGIC "denied and continues to deny" ...
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Monday, December 28th, 2009
Posted To: MBS CommentaryI hope your holiday went smoothly and all anxieties have been erased. The ride in was extra quiet this morning. No DC traffic to yell at, no parked police cars to stop and stare at , no sun glare to slow the pace of nervous nelly. Just ...
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Monday, December 28th, 2009
Posted To: MND NewsWireWith one week to go in 2009 the S&P 500 is up 24.7% on the year. Or, if it makes you feel better, the benchmark index is up 64.8% since its nadir on March 9. Between the Christmas holiday and the New Year the economic schedule is ...
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Thursday, December 24th, 2009
Posted To: MBS CommentaryIt's that time again folks... Another year of fun in the MBS market draws to a close and we are left with but a few trading sessions between now and 2010, and even those sessions can't promise any meaningful participation or movement. We don't want to tell ...
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Thursday, December 24th, 2009
Posted To: Pipeline PressThere are some very witty and clever folks out there. (The level of my wit is at about, “A horse walks into a bar. The bartender asks, ‘Why the long face?’” And my clever rating maxed out after I finished the ‘Pick a Peck of Puzzles’ book ...
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