Happy Memorial Day From MND
Friday, May 28th, 2010Posted To: MBS CommentaryE V E R Y O N E H A V E A S A F E M E M O R I A L D A Y W E E K E N D . . . . . . "For these men are lately drawn ...
Archive for May, 2010
Posted To: MBS CommentaryE V E R Y O N E H A V E A S A F E M E M O R I A L D A Y W E E K E N D . . . . . . "For these men are lately drawn ...
USDA Issuing Conditional Loan Approvals Again; MBA Studies Housing and Mortgage Market Collapse; Jumbo Loan Pricing; Scratch and Dent Desk
Friday, May 28th, 2010Posted To: Pipeline PressSome good news has come out of Washington DC regarding "conditional funding" of loans through the USDA Rural Development loan program. There will be conditional commitments for single family homes issued, subject to "the availability of funds and statutory authority to obligate such funds to support the ...
MBS Prices Rally After Econ Data. Early Close For Bond Traders
Friday, May 28th, 2010Posted To: MBS CommentaryGood Morning. Personal Income and Spending data has been released. From the BEA : Personal income increased 0.4 percent in April after increasing the same percent in March. Wages and salaries, the largest component of personal income, rose 0.4 percent after rising 0.3 percent. Real disposable personal ...
Window Dressing Begins. Bonds End Bad Day At Worst Levels
Thursday, May 27th, 2010Posted To: MBS CommentaryFN45 High: 102-09. FN45 Low: 101-22. FN45 Close: -0-18 at 101-24 Current Coupon +14.8bps at 4.205% Yield Spreads Slightly Tighter vs. TSYs and Swaps 10s +16.5bps at 3.192%. -1-13 in price. 5yr note yield is worst performer: +17.9bps today Healthy Concession Balances Demand For 7-Year Auction. READ ...
Mortgage Rates On Two Day Losing Streak. Lock Bias Stands
Thursday, May 27th, 2010Posted To: Mortgage Rate WatchMortgage rates rose yesterday morning after optimism in equities led bond investors to sell their flight to safety positions in risk free U.S. Treasuries. This led mortgage-backed security prices lower and forced consumer borrowing costs higher. While the S&P failed to maintain momentum all the way ...
Understanding Reverse Mortgage Closing Costs
Thursday, May 27th, 2010Posted To: Community CommentaryAs with a conventional mortgage, there are costs associated with a reverse mortgage. While they are generally perceived as being high, once you get a bit more pespective you’ll see that the cost of a reverse mortgage is comparable to a conventional loan. One difference is that ...
FHFA Publishes Framework To Establish FHLBank Housing Goals
Thursday, May 27th, 2010Posted To: MND NewsWireThe Federal Housing Finance Agency (FHFA) has submitted a proposed rule to establish a framework for affordable housing goals for the 12 Federal Home Loan Banks (FHLBanks) it oversees for publication in the Federal Register. FHFA is mandated to establish such goals both for FHLBanks and for ...
Healthy Concession Balances Demand For 7-Year Notes. Market Sideways After Auction
Thursday, May 27th, 2010Posted To: MBS CommentaryThe Treasury has successfully sold $31 billion 7-year notes. This offering was $1 billion less than the previous six 7-year note auctions. The bid-to-cover, a measure of auction demand, was 2.88 bids submitted for every one accepted by Tsy. This is an above average btc ratio which ...
HUD Chief Looks To Simplify Home Rental Assistance Program
Thursday, May 27th, 2010Posted To: MND NewsWireU.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan unveiled details of a new initiative called Transforming Rental Assistance (TRA) before the House Financial Services Committee on Tuesday, telling the Representatives that providing rental assistance to America's most vulnerable families is "the most important thing ...
New Bond Rating Supplier With a Twist; Jumbo Loan Buyers; Banks Selling Distressed Debt; Financial Reform Update;
Thursday, May 27th, 2010Posted To: Pipeline PressMy Dad is 87, and was telling me that he's run through his savings. "I've outlived my money!" he told me. "Tell it to someone who cares" I replied. Okay, I am just kidding on both counts, but anyone close to the reverse mortgage field knows that ...