Housing Mortgages Information

MBS RECAP: 2/1/2012

February 1, 2012 – 1:22 pm
Posted To: MBS CommentaryMBS Live : MBS RECAP Open MBS Live Dashboard FNMA 3.5 103-30 : +0-02 FNMA 4.0 105-23 : +0-01 FNMA 4.5 106-29 : +0-02 FNMA 5.0 108-01 : +0-02 GNMA 3.5 105-08 : +0-01 GNMA 4.0 107-27 : +0-01 GNMA 4.5 109-06 : +0-00 GNMA 5.0 110-28 : +0-03 FHLMC 3.5 103-23 : +0-01 FHLMC 4.0 105-12 : -0-02 FHLMC 4.5 106-12 : +0-01 FHLMC 5.0 107-19 : +0-01 Pricing as of 4:04 PM EST Afternoon Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 1:29PM : ALERT: Positive Reprices Not Out of The Question. MBS Test New Highs Although it doesn't look like Fannie 3.5's will add more than a tick or two onto the all time high levels that have provided such a firm ceiling for the past 3 sessions, new highs are ...

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White House Details Housing Plans

February 1, 2012 – 1:22 pm
Posted To: MND NewsWireSaying that the housing crisis struck right at the heart of what it means to be middle class, President Barack Obama has begun to flesh out the housing-related proposals he made in his State of the Union speech last Tuesday. He spoke this morning at Falls Church, Virginia about his housing plans, some pieces of which have already been put into effect by the Departments of Justice (DOJ), Treasury, and Housing and Urban Development (HUD) in the eight days since they were first announced. The President spoke only briefly and most of the information about his proposals comes from a Fact Sheet released by the White House just before his speech. The most ambitious part of the Administration's housing plan is the expansion of several existing programs to streamline refinancing for homeowners with...(read more)Forward this article via email:  Send a copy of this story to someone you know ...

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Solemn Remembrance of Those Lost Aboard Shuttle Columbia

February 1, 2012 – 1:15 pm
Posted To: Voice of HousingLike countless persons across the world, I watched in quiet disbelief as thousands of pieces of debris streaked across the vast Texas sky the morning of February 1, 2003. Unlike what had transpired in 1986 during the launch of the shuttle Challenger, this time the shuttle Columbia was re-entering earth’s atmosphere. Traveling at Mach 19 at an altitude of 200,000 feet, the shuttle was only a dozen or so minutes from touching down at the Kennedy Space Center – where family and support personnel waited. Sadly, that landing never happened. What also made this morning different for me was that I had taken over the White House Office of Cabinet Affairs only 10 days earlier. The Office served as a policy-coordinating body across the White House policy councils, in addition to its primary...(read more)Forward this article via email:  Send a copy of this story to someone you ...

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The State of the Mortgage Industry According to MBA

February 1, 2012 – 12:53 pm
Posted To: MND NewsWireThe Mortgage Bankers Association ( MBA ) provided its annual assessment of The State of the Mortgage Industry in a press conference Wednesday afternoon. Michael Young, MBA Chairman said that the states that have been hardest hit by the housing crisis are and will continue to deal with the aftermath but there are signs that in much of the nation 2012 will bring a recovering market. One bright spot , Young said, is that the turmoil in the single family market has actually helped the multi-family sector; the rental market has tightened and more lenders have moved into the sector, especially life insurance companies. In the residential market, he said, the one topic that is discussed everywhere is the lack of financing and what can be done about it. David H. Stevens, MBA President and CEO said...(read more)Forward this article via email:  Send a copy of this story ...

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Oregon Joins Servicer Settlement

February 1, 2012 – 11:17 am
Posted To: MND NewsWireThe Attorney General of Oregon announced today that he will join in the so-called 50-state Attorneys General settlement with five major financial institutions that operate the large servicing organizations. The settlement arose out of a multi-state investigation of alleged improprieties the servicers' management of delinquent loans and foreclosures. Attorney General John Kroger said in a prepared statement that "The Oregon Department of Justice is deeply committed to protecting consumers. In assessing any potential consumer protection settlement I compare the benefits of the settlement with potential benefits that might accrue in the future if we chose to litigate rather than settle. I have made that assessment in this case, and I am confident that signing this agreement is in the best interest...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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Mortgage Rates Remarkably Steady At Historic Lows

February 1, 2012 – 10:50 am
Posted To: Mortgage Rate WatchMortgages Rates are just slightly better than unchanged on the day. Best-Execution remains at 3.875% for conventional 30yr fixed loans, and the slight improvements seen today have benefited the borrowing costs required to obtain those rates. (learn more about how we calculate Best-Execution in THIS POST ). Some of the stratification between lender offerings seems to be lessening now that underlying markets have demonstrated the ability to hold recent levels. Particularly, MBS (the "mortgage-backed securities" that most directly affect mortgage rates) recently reached new all-time highs. The fact that this is occurring at the same time rates are back at new all-time lows is no coincidence. But it also means that there are some physics-based considerations for MBS prices (higher prices = lower...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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MBS MID-DAY: 2/1/2012

February 1, 2012 – 8:22 am
Posted To: MBS CommentaryMBS Live : MBS MID-DAY Open MBS Live Dashboard FNMA 3.5 103-29 : +0-01 FNMA 4.0 105-22 : +0-00 FNMA 4.5 106-27 : +0-01 FNMA 5.0 107-31 : +0-00 GNMA 3.5 105-07 : -0-01 GNMA 4.0 107-25 : -0-02 GNMA 4.5 109-04 : -0-02 GNMA 5.0 110-23 : -0-02 FHLMC 3.5 103-23 : +0-01 FHLMC 4.0 105-14 : +0-00 FHLMC 4.5 106-11 : +0-00 FHLMC 5.0 107-18 : +0-00 Pricing as of 11:04 AM EST Morning Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 10:24AM : ALERT: Bond Markets Continue Weakening After Latest Data. MBS Outperform Longer-dated Treasury yields continued to climb this morning after the latest round of economic data showed improved construction spending and ongoing, albeit moderate strength in the manufacturing sector. 10yr yields have risen...(read more)Forward this article via email:  Send a ...

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Watch Live Now: President Obama Speech on Refi Plan / Housing

February 1, 2012 – 8:06 am
Posted To: MND NewsWireIn his State of the Union address, President Obama laid out a Blueprint for an America Built to Last, calling for action to help responsible borrowers and support a housing market recovery. While the government cannot fix the housing market on its own, the President believes that responsible homeowners should not have to sit and wait for the market to hit bottom to get relief when there are measures at hand that can make a meaningful difference, including allowing these homeowners to save thousands of dollars by refinancing at today’s low interest rates. That’s why the President is putting forward a plan that uses the broad range of tools to help homeowners, supporting middle-class families and the economy. FACT SHEET JOIN THE LIVE CHAT VISIT WHITEHOUSE.GOV...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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MBS Continue To Outperform As Treasuries Level Off

February 1, 2012 – 7:48 am
Posted To: MBS Commentary10:24AM ( MBS Live ) - Bond Markets Continue Weakening After Latest Data. MBS Outperform Longer-dated Treasury yields continued to climb this morning after the latest round of economic data showed improved construction spending and ongoing, albeit moderate strength in the manufacturing sector. 10yr yields have risen 4 bps since 8:40AM and now stand at 1.84. MBS are faring much better by comparison with Fannie 3.5's down only 2 ticks at the moment to 103-26 (all-time highs are only 3-4 ticks higher). We're probably not far enough into the day, nor have we experienced sufficient losses to be concerned about reprices for the worse, but the general, underlying tone at the moment is one of weaker bond markets and stronger stocks. Obama is expected to be talking about expanding government refinance...(read more)Forward this article via email:  Send a copy of this story to someone you know that may ...

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FHFA Invites Investors to Pre-Qualify for Bulk REO Sales

February 1, 2012 – 7:34 am
Posted To: MND NewsWireThe Federal Housing Finance Agency ( FHFA ) announced today the first step in a new initiative to convent foreclosed properties (REO) in the hardest-hit metropolitan areas to rentals. The Real Estate Owned Initiative is a joint endeavor of the Departments of Treasury, and Housing and Urban Development (FHMA's parent), the Federal Deposit Insurance Corporation, and the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The first phase of the program will encourage investors interested in participating to "pre-qualify" to bid on property in the pilot phase of the program and any subsequent phases with the understanding these properties would be held as rentals for a specified period of time. The expectation is that the rental period will provide relief for local housing markets...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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