The Foreclosure Blog

Posted To: MBS Commentary

More ranges, more pivot points, more trends, more chopatility, more uncertainty, more of EVERYTHING you've come to know and love about 2009. The conclusive tone is used here because nothing changes, nothing will change, and nothing CAN change until some time into the new year. That's it. It's done folks… 2009 is [...]

Posted To: Mortgage Rate Watch

Mortgage rates fell yesterday afternoon as benchmark Treasury yields fell and mortgage backed security prices rallied. MBS price appreciations were quite sizeable, allowing many lenders to reprice for the better, which lowered mortgage rates. While AQ outlined a variety of technical reasons behind the rally in bond markets, the best explanation [...]

Posted To: Voice of Housing

By Mercy Jiménez Co-founder of Covered Bond Investor The much-anticipated Congressional hearing on covered bonds held December 15 appeared to show that even in the current polarized political environment, it is sometimes possible for both sides of the aisle to get behind a good idea. Covered bonds are a form of [...]

Posted To: MBS Commentary

Here's the damage so far today: – MBS 4.0's down 12 ticks to 98-18 – MBS 4.5's down 8 ticks to 101-09 – 10yr Tsy down 17 ticks in price, up 6.4 bps in yield to 3.544 – Stocks mostly unchanged, still very range-bound And by the time the close rolls around [...]

Posted To: Community Commentary

Arthur D’Arcy “Bobby” Locke (1917-1987) was one of the first internationally successful South African golfers. He was inducted into the World Golf Hall of Fame in 1977. His famous saying was “You drive for show but putt for dough. ” So what does Bobby Locke’s famous saying have to do with the [...]

Posted To: MBS Commentary

Although not far removed from the tight range that has held all day, the FN 4.5 is at session lows. Considering it's a Friday and many lock desks are enjoying holiday work parties (or holiday work party hang overs)…I would be issuing a reprice for the worse just to avoid having to [...]

Posted To: MBS Commentary

Rates trader's are celebrating the last Friday trading session of 2009 by…….NOT TRADING! Today has indeed been a reeeeeal snoozer in the rates market. Both 10s and "rate sheet influential" MBS coupons haven't made much progress in either direction. In the TSY futures market, 300,000 contracts have traded, mostly back and forth [...]

Posted To: MND NewsWire

Commercial/multifamily mortgage debt, declined slightly during the third quarter according to data released on Thursday by the Mortgage Bankers Association (MBA). The conclusion was based on MBA's analysis of the Federal Reserve Board Flow of Funds data. During the third quarter the amount of commercial/multifamily debt outstanding declined by $28 billion or [...]

Posted To: Pipeline Press

Given the confusion over compliance issues, I received notes yesterday from a few third party vendors. One producer wrote, " Encompass appears to be one of the best originating software tools that I have seen to give alerts to avoid falling out of compliance." A few others wrote to tell me that [...]

Posted To: MBS Commentary

Good Morning All. Happy Last Quadruple Witching Day of 2009. More importantly, Happy Friday. Treasuries gave back some gains overnight. Several explanations could be offered but I think the most relevant observation continues to be "selling into strength" aka profit taking followed by fast money day traders "buying on the dips"….this is [...]