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Real Estate News
Black Knight's Deep Dive on Housing, Mortgages, and COVID
Fri, 03 Apr 2020 17:49:40 GMT

Posted To: MND NewsWireBlack Knight has taken what will probably prove to be only their first in-depth analysis of the potential effects of the COVID-19 pandemic on the economy and specifically on the U.S. housing and mortgage markets. The paper look..[read more]

(Home) Building our Way out of Crisis
Fri, 03 Apr 2020 13:26:46 GMT

Posted To: MND NewsWireHome building might be the answer to more than just the housing shortage according to some information provided by Paul Emrath, economist for the National Association of Home Builders (NAHB). He maintains that it can also be a ..[read more]

Appraisal, Credit, Doc, Broker Products; Major Jumbo Changes; Delay in Servicer Rescue?
Fri, 03 Apr 2020 13:16:51 GMT

Posted To: Pipeline PressWhile in captivity it is important to focus on the friends you’ll see when you’re released . Your borrower doesn’t want the fuss and muss of typing up their own forbearance letter so they don’t have to..[read more]

HUD Says First Relief Funds are on the Way
Fri, 03 Apr 2020 13:04:06 GMT

Posted To: MND NewsWireThe Department of Housing and Urban Development (HUD) has announced how it will be allocating its initial portion of funds from the massive Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by Congress last week..[read more]

MBS Day Ahead: The Market Knows More Than Any One Person, And Knows it Sooner
Thu, 02 Apr 2020 14:41:54 GMT

Posted To: MBS CommentaryMany people have "expert sources" they rely on for insight to potential market movers. I understand this quite well. On the one hand , I used to believe that such experts knew more than my 13yr old about what might happen nex..[read more]

Appraisal, Broker, QC Products; Industry Shifting Programs, Underwriting, Pricing, and Execution
Thu, 02 Apr 2020 13:30:57 GMT

Posted To: Pipeline PressYesterday I decided to put thoughts of SRP values plummeting, and EPO & EPD penalties being enforced, out of my mind and get some exercise. My cat Myrtle had a mix of curiosity and disdain while watching me do my the 90-secon..[read more]

Single-Family, Public Construction Spending on Upswing
Wed, 01 Apr 2020 15:46:22 GMT

Posted To: MND NewsWireNationwide outlays for construction slipped slightly in February. The Census Bureau said public and private sources spent at a seasonally adjusted annual rate of $1.367 trillion on all forms of construction, down 1.3 percent fr..[read more]

MBS Day Ahead: Data Doesn't Matter? Oh, It Will...
Wed, 01 Apr 2020 13:43:48 GMT

Posted To: MBS CommentaryThis morning's ADP Employment showed a loss of 27k jobs. Forecasts called for a loss of 150k jobs compared to last month's report that was strongly positive at +183k. Normally, when ADP or NFP job counts beat their fo..[read more]

FHA Jobs; Broker, Marketing, Training Products; Servicing Trends; Processing and UW Changes
Wed, 01 Apr 2020 13:19:41 GMT

Posted To: Pipeline Press“I hadn’t planned on giving up quite this much for lent.” So true. It is a different world than only a month ago. Of course rates are going to stay at these levels for a long time. But rate sheet prices are ..[read more]

Lessons From Great Recession Wall Street Buying Spree
Wed, 01 Apr 2020 12:54:30 GMT

Posted To: MND NewsWireIn an earlier article , (before more pressing issues shelved the topic) we summarized highlights from a recent New York Times Magazine article about the ownership of a large share of the nation's single-family rental stock by i..[read more]

Mortgage Apps Defy Coronavirus Woes and Post a 15% Increase
Wed, 01 Apr 2020 12:27:42 GMT

Posted To: MND NewsWireWell this was a surprise. In a week when unemployment claims soared to the highest level in probably ever and several large states went into a COVID-19 induced lockdown, the Mortgage Bankers Association (MBA) announced a signif..[read more]

Mortgage Market is Freaking People Out
Tue, 31 Mar 2020 21:30:00 GMT

Posted To: Mortgage Rate WatchThere are too many counter-intuitive and frustrating developments in the mortgage market to comprehend all at one time, let alone discuss. That's not a cop-out as much as it is a favor I'm doing for you. If we tried to c..[read more]

HAVE A QUESTION ABOUT FED MBS BUYING?
Tue, 31 Mar 2020 18:27:15 GMT

Posted To: MBS CommentaryCURRENT FED MBS BUYING SCHEDULE AND PURCHASE LOOKUP TOOL I'm changing up this Q&A to make it shorter, denser, and better. If it's too pithy for you, revisit the previous version of this commentary HERE and take time t..[read more]

Solid Home Price Gains Continued into January Ahead of Coronavirus Pandemic
Tue, 31 Mar 2020 14:58:40 GMT

Posted To: MND NewsWireHome prices entered 2020 still on the uptick according to the S&P CoreLogic Case-Shiller indices. The U.S. National Home Price Index, which covers all nine U.S. census divisions, reported a 3.9 percent annual gain in January. T..[read more]

MBS Day Ahead: Let's Talk About Porridge
Tue, 31 Mar 2020 13:42:55 GMT

Posted To: MBS CommentaryI don't know much about porridge. I'm not even sure I've ever eaten it. I do know one thing about it though: the temperature has to be "just right" from what I've heard. Markets--especially bond markets--are v..[read more]

Marketing, Cybersecurity, eClosing Products; Shifts in LTVs, Credit, Pricing, Appraisal Policies
Tue, 31 Mar 2020 13:03:00 GMT

Posted To: Pipeline PressRemember when all we had to worry about was Amazon taking over mortgage banking? The sun hits different here in March – see joke at bottom. (Thirty days hath September, April, June, and November. All the rest have thirt..[read more]

What's Being Done to Prevent Forbearance From Crushing The Mortgage Industry?
Mon, 30 Mar 2020 15:29:05 GMT

Posted To: MND NewsWireAmong responses to the job losses and reduced income already emerging from the COVID-19 pandemic has been a moratorium on foreclosures and a requirement, coming from many quarters, that servicers offer mortgage borrowers an ext..[read more]

Pending Home Sales Are Robust Prior to Shutdown
Mon, 30 Mar 2020 14:41:53 GMT

Posted To: MND NewsWirePending home sales, which jumped 5.2 percent in January, did not retrench as expected last month. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) grew 2.4 percent to a reading of 111.5 i..[read more]

LO Jobs; Broker Products; California MBA Weighs In; Deep Capital Markets Dive
Mon, 30 Mar 2020 12:50:23 GMT

Posted To: Pipeline PressAfter a long time in captivity with the same people, one may become, uh, less than enamored with their pals. “12 th day of self-isolation and it’s like Vegas in my house. We’re losing money by the minute, co..[read more]

The Fed Is Buying Fewer Mortgage Bonds This Week (Sort Of...)
Mon, 30 Mar 2020 04:19:57 GMT

Posted To: MBS CommentaryHere is this week's MBS buying calendar . It differs from last week's in that there is now only $40bln of purchases per day rather than $50bln. So does that mean MBS prices are doomed? Not even a little bit. In fact, ..[read more]

MBS Day Ahead: Lender Pricing Will Continue to Defy MBS Logic in Some (Many?) Cases
Fri, 27 Mar 2020 14:50:40 GMT

Posted To: MBS CommentaryI devoted years of my life championing the cause of educating mortgage originators on the realities of MBS price movement. The most compelling call to action came during the meltdown where MBS told a story that wasn't bei..[read more]

Broker, Credit Products; IRS/Tax Transcript, Jumbo, MISMO, RON Changes
Fri, 27 Mar 2020 13:33:42 GMT

Posted To: Pipeline PressWhile in captivity it is important to have good communication . (Early anecdotal chatter indicates that the remote workforce has signs of improved productivity!) In the Northwest, Banner Bank’s mortgage group celebrated..[read more]

Refinances Dominated Freddie Mac Volume in February
Fri, 27 Mar 2020 13:11:17 GMT

Posted To: MND NewsWireFreddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 5.5 percent in February , up from a 4.3 percent gain in January. The portfolio balance at the end of the period was $2.350 tril..[read more]

Who Broke The Mortgage Market And When Will It Be Fixed?
Thu, 26 Mar 2020 21:17:45 GMT

Posted To: MBS CommentaryI will do my best to speak to both consumer and mortgage industry people on this topic. It affects everyone. With that in mind, the following is a list of questions that loan originators have been asking. Consumers might not ..[read more]

CFPB Empowers Fannie/Freddie to Overcome Lockdown Woes
Thu, 26 Mar 2020 16:50:00 GMT

Posted To: MND NewsWireFlexibility seems to be the keyword as government agencies try to adjust to a lot of new realities. The Federal Housing Finance agency has already empowered the GSEs (Fannie Mae and Freddie Mac) to be flexible about obtaining a..[read more]

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