Reneé Borenstein & Marcia Gale
Marcia Cell: 213.760.3177
Reneé Cell: 818.535.6352
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Real Estate News
MBS RECAP: Bonds Live to Die Another Day
Mon, 24 Jun 2019 20:59:12 GMT

Posted To: MBS CommentaryFriday was tense for the bond market, with selling pressure that was just big enough to cause concern about a bigger correction, and buying support that was consistent enough to suggest we still had a chance. Today's trad..[read more]

Rates Catch a Break to Remain Near Long-Term Lows
Mon, 24 Jun 2019 19:39:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were generally flat today, depending on the lender. Some were noticeably better while others were a hair worse. In both cases, rates are very close to the lowest levels since late 2016. Changes from Friday..[read more]

Mortgage Prepays Continue to Mount, Doubling in Four Months
Mon, 24 Jun 2019 15:27:39 GMT

Posted To: MND NewsWireMortgage prepayment rates have continued to rise as interest rates move lower. Black Knight says prepayments increased by 24.31 percent in May compared to April and 32.17 percent on an annual basis. The company, in its "first l..[read more]

Tons of Upcoming Training and Events; Loan Delivery and Construction Products
Mon, 24 Jun 2019 13:32:00 GMT

Posted To: Pipeline PressI start the last week of June in Park City, Utah at a STRATMOR meeting and with a correction. In discussing tax laws in Saturday’s commentary I wrote, “The new law limits the deductibility of mortgage interest pay..[read more]

MBS Day Ahead: Guarding Against a Technical Bounce Before Decision Time
Mon, 24 Jun 2019 13:19:26 GMT

Posted To: MBS CommentaryIn the week just past, bonds were preoccupied with central bank communications. Wednesday's Fed announcement was going to be the only game in town, but Draghi's speech at the SINTRA conference (which promised rate cut..[read more]

MBS RECAP: Bonds Reject Post-Fed Rally
Fri, 21 Jun 2019 22:46:54 GMT

Posted To: MBS CommentaryThe bond market took an entire day to reiterate what it told us yesterday afternoon. Simply put: it's not interested in rallying much more than it already had before Wednesday's Fed announcement. Underlying data and e..[read more]

Mortgage Rates Slightly Higher; More Volatility on The Horizon
Fri, 21 Jun 2019 22:46:00 GMT

Posted To: Mortgage Rate WatchMortgage rates have had an impressive run --the best since 2011, in fact, when it comes to total peak to trough movement. That winning streak might not even be over, but every time rates bounce recently--even if only sli..[read more]

Many Larger Lenders Cut Back on FHA Lending Due to False Claims Act
Fri, 21 Jun 2019 16:59:37 GMT

Posted To: MND NewsWireAfter the housing crisis and faced with a flood of insurance claims, FHA and the Department of Justice responded with enforcement efforts against lenders that had made underwriting mistakes , levying large fines, requiring more..[read more]

Existing Home Sales and Inventory Bouncing Back - Prices Too
Fri, 21 Jun 2019 15:22:01 GMT

Posted To: MND NewsWireExisting home sales broke out of a two-month slump in May, rising by 2.5 percent compared to April and beating, by a considerable margin, analysts' consensus expectations. The National Association of Realtors® said sales of..[read more]

MBS Day Ahead: Start Preparing For Bigger Moves Ahead
Fri, 21 Jun 2019 14:16:20 GMT

Posted To: MBS CommentaryIn the day just past, bonds initially extended the post-Fed gains with 10yr yields briefly hitting 1.973% before bouncing to end unchanged on the day. The selling was almost exclusively motivated by technicals and tradeflows ..[read more]

Non-Agency Product; Fannie/Freddie Updates; VA IRRRL Reminder/Clarification
Fri, 21 Jun 2019 13:06:00 GMT

Posted To: Pipeline PressThat mortgage prices change every day, and often during the day, is about as surprising as sheriffs finding marijuana on Willie Nelson’s tour bus. Price changes have an immediate impact, and I knew that I’d receiv..[read more]

MBS RECAP: 10yr Breaks Below 2% Intraday, But Can't Hold The Gains
Thu, 20 Jun 2019 22:41:31 GMT

Posted To: MBS CommentaryA break below a big psychological technical level in bond yields can be a great thing to behold, but it can also be a signal that it's time for bonds to bounce. Bonds have now gone 7 weeks (barring catastrophe tomorrow) w..[read more]

Mortgage Rates Hit New Long-Term Lows, Then Bounce
Thu, 20 Jun 2019 22:05:00 GMT

Posted To: Mortgage Rate WatchMortgage rates plunged today as the bond market extended its positive reaction to yesterday's Fed announcement. The Fed doesn't set mortgage rates, but the market's expectation of Fed rate-setting policy has a major impa..[read more]

Delinquency Rates Down Overall, but Larger Cities Feel More Pressure
Thu, 20 Jun 2019 16:03:35 GMT

Posted To: MND NewsWireWhile the nations delinquency rate declined in March, to 4.0 percent from 4.3 percent a year earlier, CoreLogic notes that 21 states and 166 of the largest metropolitan areas experienced small increases in delinquencies on an a..[read more]

Google Commits $1 Billion to Bay Area Housing
Thu, 20 Jun 2019 14:37:43 GMT

Posted To: MND NewsWireIf the rumors about housing in Silicon Valley are true, it is probably hard to recruit new employees if they fear they will have to live in an RV in WalMart's parking lot. Such a situation may have prompted Google to announce a..[read more]

New Purchase/Renovation Loan Added to Freddie Mac Choices
Thu, 20 Jun 2019 14:17:11 GMT

Posted To: MND NewsWireFreddie Mac is announcing a new loan program to help address the need for affordable housing and encourage the renovation of older homes. The company says its new CHOICE Renovation loans will "provide homebuyers a flexible choi..[read more]

Database Sales, Closing Costs Products; Lender-Related M&A; What's Moving Rates
Thu, 20 Jun 2019 14:13:57 GMT

Posted To: Pipeline Press“Enable” is such a vague, over-used tech term. The same with “repurpose.” But over the next 10 years Google is going to “repurpose” (aka, re-zone) a lot of land and plans to invest $1 billi..[read more]

MBS Day Ahead: Strong Trend Intact After Fed Day
Thu, 20 Jun 2019 12:58:01 GMT

Posted To: MBS CommentaryIn the day just past, bonds were primarily concerned with reacting to the Fed announcement, press conference, and updated economic projections. Even though the Fed's median rate forecast for the end of 2019 remained uncha..[read more]

Ellie Mae Chief Sees "Very Robust" Summer Sales
Thu, 20 Jun 2019 12:30:01 GMT

Posted To: MND NewsWireLoans originated in May carried lower mortgage rates t han the previous month for the 5 th consecutive time according to Ellie Mae's Origination Insight Report . The average rate for the 30-year fixed-rate mortgage was 4.52 per..[read more]

Mortgage Rates Mixed Despite Positive Reaction to Fed
Wed, 19 Jun 2019 22:48:16 GMT

Posted To: Mortgage Rate WatchMortgage rates reacted favorably to today's Federal Reserve announcement and press conference--today's key events. But that doesn't mean every lender is in better shape than yesterday. The morning hours saw the bond mark..[read more]

MBS RECAP: Fed Threads The Needle as it Preps Markets For Policy Shift
Wed, 19 Jun 2019 22:35:49 GMT

Posted To: MBS CommentaryAs expected, today was all about the Fed-related events. Yields moved exactly as far we thought they might based on the Day Ahead , AND in a friendly direction! But if I had to guess where yields would end up based on the con..[read more]

Differences Between Previous and Current FOMC Statements
Wed, 19 Jun 2019 18:02:54 GMT

Posted To: MBS CommentaryInformation received since the Federal Open Market Committee met in MarchMay indicates that the labor market remains strong and that economic activity roseis rising at a solidmoderate rate. Job gains have been solid, on avera..[read more]

Moderating Home Prices Stoke 'Time to Sell' Sentiment
Wed, 19 Jun 2019 15:12:57 GMT

Posted To: MND NewsWireThe second quarter HOME (Housing Opportunities and Market Experience) survey from the National Association of Realtors® (NAR) appears to indicate that a period of softening price increases and lower interest rates have only..[read more]

MBS Day Ahead: 6 Years Later, Today's Fed Day Should Be a Bit Different
Wed, 19 Jun 2019 13:35:23 GMT

Posted To: MBS CommentaryIn the day just past, bonds surged to the best levels since 2017, with 10yr yields coming within 0.002% of the lowest yields since Nov 2016. The key market mover was a speech from European Central Bank President Mario Draghi ..[read more]

MLO Resources; Credit Product; Intro to the Prime Jumbo Securitization Market
Wed, 19 Jun 2019 12:51:51 GMT

Posted To: Pipeline PressGood loan officers pay attention to demographics. For example, according to a new report from the United Nations, the population of the planet could rise from its current 7.7 billion to 10.9 billion by the year 2100. This is ..[read more]

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