Archive for June, 2010
Wednesday, June 30th, 2010
Posted To: MBS CommentaryThis week, the Federal Reserve Bank of New York Open Market Trading Desk began conducting a limited amount of agency mortgage-backed security (MBS) " coupon swap operations " in order to facilitate the timely settlement of agency MBS trades. A coupon swap is a transaction conducted at ...
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Wednesday, June 30th, 2010
Posted To: MND NewsWireFHA Commissioner David Stevens wrote to the industry today . He discussed RESPA Reform and provided and update on the implementation of the SAFE ACT. Below are his comments.... The Office of Housing’s latest efforts have a common thread: the continued need to strengthen protections for consumers ...
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Wednesday, June 30th, 2010
Posted To: Mortgage Rate WatchThe relentless mortgage rate rally continued yesterday. Lenders were seen offering the most aggressive loan pricing of our lifetime, again, as stocks extended their losing streak and risk-averse investors piled funds into government guaranteed U.S. Treasuries. High demand for risk free has bonds led mortgage-backed securities ...
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Wednesday, June 30th, 2010
Posted To: MND NewsWireIndependent mortgage bankers and subsidiaries had a dramatically better year in 2009 than the one they had endured in 2008. According to the Mortgage Bankers Association (MBA)'s Annual 2009 Mortgage Bankers Production Survey released on Wednesday, profits on the average loan originated last year rose to $1,135 ...
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Wednesday, June 30th, 2010
Posted To: MBS CommentaryMarkets are taking a break from capitulative-esqe behavior today... The August delivery FN 4.0 has given back the modest price improvements seen yesterday, currently bid -0-08 at 100-28. The secondary market current coupon is 3.7 basis points higher at 3.841%. Yields spreads are wider which implies there ...
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Wednesday, June 30th, 2010
Posted To: MND NewsWireAs if it were needed, RealtyTrac Wednesday offered more proof that the housing market will not improve until Americans can carry the mortgages they already have... According to data released by RealtyTrac , 31 percent of all residential properties that sold in the first quarter of 2010 ...
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Wednesday, June 30th, 2010
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 25, 2010. The Mortgage Bankers Association application survey covers over 50% of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists ...
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Wednesday, June 30th, 2010
Posted To: Pipeline PressHere is some good news! Lock desks were busy last week, with mortgage applications hitting an eight-month high according to the MBA numbers. Apps were up almost 9%, with purchases down about 3% (to 1997 levels) but refi's were up 13% to where they were a year ...
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Wednesday, June 30th, 2010
Posted To: MBS CommentaryEquity futures are looking for a brighter open this morning after the European Central Bank said it would lend 171 banks a total of €131.9 billion for three months. The pledge is, however, less than the €250-300 that economists were expecting . Ninety minutes before the opening ...
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Tuesday, June 29th, 2010
Posted To: MBS CommentaryJULY FNCL 4.0 : +06 at 101-15 (101.469) AUGUST FNCL 4.0 : +06 at 101-04 (101.125) Secondary Market Current Coupon : -2.6 bps at 3.804% CC Yield Spreads :+85.1bps/10yTSY. +79.1bps/10yIRS. SPREADS WERE WIDER ALL DAY UST10YR : -7.1bps at 2.953%. 2s/10s : 4bps FLATTER at 235bps. 2YR ...
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