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Real Estate News
Rates Rise but Refi Share Unchanged
Fri, 22 Sep 2017 16:26:15 GMT

Posted To: MND NewsWireRefinancing accounted for 35 percent of all mortgages originated in August, unchanged from July, but down from 47 percent at the beginning of the year. Ellie Mae's says, in its Origination Insight Report for the month, that ref..[read more]

UI Praises HARP Benefits, Lessons
Fri, 22 Sep 2017 15:14:13 GMT

Posted To: MND NewsWireSometimes government gets it right. The Urban Institute (UI) clearly thinks that the Home Affordable Refinance Program, at least in its second iteration , was one of those times. The history of HARP, as the program is known, is..[read more]

Agency Conforming Changes; Market Exec on Cost to Originate
Fri, 22 Sep 2017 13:37:32 GMT

Posted To: Pipeline PressWelcome to the autumn equinox. How about this? There have been no public CFPB enforcement actions or consent orders dealing with QM, ATR, or TRID. Zero, zip. Has the CFPB realized that companies are genuinely trying to adhere..[read more]

Home Equity Increases, Average Gains Vary Wildly
Fri, 22 Sep 2017 13:18:49 GMT

Posted To: MND NewsWireRising home prices continue to fuel fast growth in household equity. CoreLogic said on Thursday that owners of mortgaged properties in the U.S. (roughly 63 percent of all homes) gained an aggregate of $766 billion in additional..[read more]

MBS Day Ahead: Despite North Korea Headlines, Same Showdown on Tap
Fri, 22 Sep 2017 12:59:54 GMT

Posted To: MBS CommentaryWith a dearth of economic data on the calendar, bond traders were set to take cues from other traders, technical levels, and perhaps a big-ticket headline or two. Today begins with just such headlines . As has been the case f..[read more]

MBS RECAP: Bonds Generally Hold Ground, Complicating The Outlook
Thu, 21 Sep 2017 20:40:46 GMT

Posted To: MBS CommentaryIn a sick way, it would have been easier to see additional weakness in bond markets today. At least that would have jived with past precedent of "course corrections" from the Fed resulting in a shift in the prevailing momentu..[read more]

Mortgage Rates Find Some Support
Thu, 21 Sep 2017 19:44:00 GMT

Posted To: Mortgage Rate WatchMortgage rates have been higher almost exclusively for the past 2 weeks. Yesterday was no exception as the Federal Reserve released a rate hike forecast that was slightly more optimistic than markets were expecting. By y..[read more]

3 Trends That Will Drive The Mortgage Market in 2018 - Freddie Mac
Thu, 21 Sep 2017 16:36:28 GMT

Posted To: MND NewsWireHard to believe it's already that time again, but Freddie Mac's Economic and Housing Research Group are out with their forecast for 2018. The headline is that they expect the economic environment to remain favorable for housing..[read more]

Pacific Division Prices Down in FHFA Report
Thu, 21 Sep 2017 13:48:50 GMT

Posted To: MND NewsWireHome prices increased by 0.2 percent from June to July according to the Federal Housing Finance Agency's (FHFA's) House Price Index (HPI). The previously reported May to June gain was unchanged at 0.1 percent. Analysts expected..[read more]

MBS Day Ahead: Bond Sell-Off's Grinch-Like Heart Growing 2.28 Sizes
Thu, 21 Sep 2017 13:43:36 GMT

Posted To: MBS CommentaryRemember when the Grinch's heart grew 3 sizes? No, I mean, do you really remember watching that movie for the first time and the feeling you had when you saw the Grinch finally on the cusp of doing something redeeming? Fa..[read more]

False Claims Act Penalty; Lender's Disaster News; Fed Does the Expected
Thu, 21 Sep 2017 13:25:29 GMT

Posted To: Pipeline PressI am currently in South Carolina, and as it turns out, no other U.S. region is more populous than the South Atlantic United States (Washington, D.C., Delaware, Maryland, Virginia, West Virginia, Georgia, North Carolina, South..[read more]

MBS RECAP: Ugly September Gets Uglier After The Fed
Wed, 20 Sep 2017 21:28:49 GMT

Posted To: MBS CommentaryToday's Fed announcement wasn't appreciably different than most economists, traders, and armchair analysts expected. They confirmed the inception of the balance sheet normalization plan. They referenced temporary impa..[read more]

Mortgage Rates Highest in More Than a Month After Fed
Wed, 20 Sep 2017 21:12:00 GMT

Posted To: Mortgage Rate WatchMortgage rates rose today following the announcement and--more importantly--the Fed's updated economic projections . The Fed holds 8 meetings a year. They release an official policy announcement after all of those. Four ..[read more]

Differences Between Current and Previous FOMC Statements
Wed, 20 Sep 2017 18:04:57 GMT

Posted To: MBS Commentary(Additions underlined, deletions struck through) Information received since the Federal Open Market Committee met in JuneJuly indicates that the labor market has continued to strengthen and that economic activity has been ris..[read more]

Existing Home Sales Distorted by Harvey
Wed, 20 Sep 2017 14:53:06 GMT

Posted To: MND NewsWireAugust was yet another disappointing month for existing home sales. The National Association of Realtors® (NAR) says those sales were down for the fourth time in five months, retreating 1.7 percent from July's estimate of 5..[read more]

Uniform Closing Dataset (UCD) Info; FINRA; Fed Announcement
Wed, 20 Sep 2017 14:27:19 GMT

Posted To: Pipeline PressUCD Information As announced in September 2016,the Uniform Closing Dataset (UCD) mandate remains September 25, 2017Lenders who can deliver the UCD are expected to adhere to the mandate and submit a successful UCD XML file for..[read more]

Mortgage Apps Tanked Last Week. Was it Rates' Fault?
Wed, 20 Sep 2017 12:52:38 GMT

Posted To: MND NewsWireOverall mortgage application activity diminished significantly during the week ended September 15, but refinancing continued to hold its own, representing more than half of the mortgage applications received. The Mortgage Banke..[read more]

MBS Day Ahead: Bonds Ready to Move Either Direction After The Fed
Wed, 20 Sep 2017 12:33:25 GMT

Posted To: MBS CommentaryMuch like an actor can get lost in a role and take things a bit too far, bond markets played the part of "a market undergoing a correction" a little too well. As of yesterday afternoon, 8 out of the last 8 business days saw 1..[read more]

MBS RECAP: Bonds Reaffirm The September Correction
Tue, 19 Sep 2017 21:33:21 GMT

Posted To: MBS CommentaryWhile MBS managed to remain 1 tick in positive territory today, Treasury yields were higher on the day and the overall mood in bond markets managed to remain downbeat for yet another day. For all intents and purposes, the dri..[read more]

Rates Steady Near Recent Highs Ahead of Fed
Tue, 19 Sep 2017 20:36:00 GMT

Posted To: Mortgage Rate WatchMortgage rates remained unchanged today, on average. This keeps them in line with their highest levels in more than a month, though admittedly, there hasn't been much upward movement since the sharpest leg of the spike e..[read more]

Fraud Risk Continues Upward Trend
Tue, 19 Sep 2017 17:42:10 GMT

Posted To: MND NewsWireJumbo refinances led the way as mortgage fraud risk posted another gain in the second quarter of 2017. CoreLogic reports that overall risk, as measured by its Mortgage Application Fraud Risk Index, was up 16.9 percent from the ..[read more]

Building Permits Regain Footing, Housing Starts Still Struggling
Tue, 19 Sep 2017 14:03:07 GMT

Posted To: MND NewsWireResidential construction outcomes in August were mixed, with permitting enjoying a strong comeback after more than a 4 percent downturn in July, but housing starts continuing to slide. Residential completions were also down sub..[read more]

FHA, VA Updates; Ginnie Mae Overview
Tue, 19 Sep 2017 13:15:45 GMT

Posted To: Pipeline PressGinnie, FHA and VA News Lender updates regarding Texas and Florida are quieting down slightly, so let's play some catch up on government programs. Ginnie Mae will consider potentially misleading marketing practices involving ..[read more]

MBS Day Ahead: Pirate Talk Could Be Our Best Option
Tue, 19 Sep 2017 12:54:42 GMT

Posted To: MBS CommentaryAhoy ye salty dogs sailing the high seas of the mortgage world. Another year has come and gone without any grand preparations for Talk Like a Pirate Day, so these first two sentences will likely be the extent of the allusion,..[read more]

MBS RECAP: Weaker Start With No Major Scapegoats
Mon, 18 Sep 2017 20:49:51 GMT

Posted To: MBS CommentaryBonds got off to a weaker start on this Fed week, and there weren't any convenient scapegoats in sight. That said, there were a few caveats. Most notable, it was the 2nd lowest volume day of the year for Treasuries, and t..[read more]

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