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This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates presented in this report are averages and are subject to change without notice. You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications. |
Monthly Archives: April 2015
Daily Newsletter: Still a Chance GSEs Could Need a Bailout; Small Victory for Rates; Title Companies Targeted
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MBS RECAP: Widespread Positive Reprices as Bonds Battle Back to Green
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MBS RECAP: Widespread Positive Reprices as Bonds Battle Back to Green
Posted to: MBS Commentary
Thursday, April 30, 2015 4:43 PM
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After defying overnight pressure from European bond markets to open in stronger territory, domestic bond markets were soon facing their own pressure. Economic data came in stronger than expected. Of particular note was the Employment Cost Index, which suggested a solid increase in wages. The significantly stronger Jobless Claims data–while of questionable importance–certainly didn’t make any case against weakness in the morning. And weakness is what we got.
10yr yields climbed as high as 2.11 by 10:50am–the same time that German Bund yields were hitting their…
More from MND:
- MND NewsWire: Severe Economic Downturn could Trigger GSE Bailout
- MND NewsWire: MERS, a Blast from the Past
- MBS Commentary: MBS MID-DAY: Europe Still Pushing Bond Weakness, but Domestic Data Isn’t Helping
- Pipeline Press: CFPB, NY, and Maryland Target Title Companies – More Regulators on the Way?
- MBS Commentary: MBS Day Ahead: Weak Enough to Bounce or Weak Enough to Suggest More Selling?
If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/mortgage_rates/blog/467882.aspx
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Severe Economic Downturn could Trigger GSE Bailout
Severe Economic Downturn could Trigger GSE Bailout
Posted to: MND NewsWire
Thursday, April 30, 2015 1:53 PM
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The Federal Housing Finance Agency reports that the two government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac might together require government assistance of as much as $157.3 billion in the event of an extremely severe economic downturn. The figure comes as a result of a stress test mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act for certain financial institutions with more than $10 billion in assets, criteria which includes the two companies which are in Federal conservatorship.
The test, an annual requirement, is designed to determine whether an institution can absorb losses as a result of hypothetical adverse economic conditions.
More from MND:
- MND NewsWire: MERS, a Blast from the Past
- MBS Commentary: MBS MID-DAY: Europe Still Pushing Bond Weakness, but Domestic Data Isn’t Helping
- Pipeline Press: CFPB, NY, and Maryland Target Title Companies – More Regulators on the Way?
- MBS Commentary: MBS Day Ahead: Weak Enough to Bounce or Weak Enough to Suggest More Selling?
- MBS Commentary: MBS RECAP: Role Reversal: GDP And Morning Trading Trump FOMC
If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/04302015_gses_stress_tests.asp
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MERS, a Blast from the Past
MERS, a Blast from the Past
Posted to: MND NewsWire
Wednesday, April 29, 2015 10:29 AM
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Remember 2010-2011 and the daily revelations about robosigning? Behind the shortcuts taken by servicers in processing foreclosure documents (sometimes even employing forgery) was their policy of recording mortgages and notes in the name of Mortgage Electronic Registrations Systems, Inc. (MERS) to avoid recording subsequent assignments to individual lenders or servicers when loans were sold or servicing rights transferred. This practice facilitated sales and transfers and avoided the cost of making assignments but became problematic when those loans fell into default and the chain of title became unclear.
More from MND:
- MBS Commentary: MBS MID-DAY: Europe Still Pushing Bond Weakness, but Domestic Data Isn’t Helping
- Pipeline Press: CFPB, NY, and Maryland Target Title Companies – More Regulators on the Way?
- MBS Commentary: MBS Day Ahead: Weak Enough to Bounce or Weak Enough to Suggest More Selling?
- MBS Commentary: MBS RECAP: Role Reversal: GDP And Morning Trading Trump FOMC
- Mortgage Rate Watch: Mortgage Rates at 6 Week Highs, But Why?
If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/04292015_loan_transfers_foreclosures.asp
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MBS MID-DAY: Europe Still Pushing Bond Weakness, but Domestic Data Isn’t Helping
MBS Live: Extended 4 Week Free Trial Offer
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MBS MID-DAY: Europe Still Pushing Bond Weakness, but Domestic Data Isn’t Helping
Posted to: MBS Commentary
Thursday, April 30, 2015 12:37 PM
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During yesterday’s bond market rout, a lousy reading on domestic data (GDP) effectively did nothing to stem the tide of overnight weakness. Today, the opposite is mostly true. Although bond markets in Europe were weaker overnight, domestic bonds managed to open in flat-to-slightly-positive territory. Economic data was generally stronger this time around, and that was where domestic bond markets found their motivation for the day.
10yr yields are up another 4.4bps to 2.09 and had been as high as 2.11 earlier today. MBS are faring better by comparison with Fannie…
More from MND:
- Pipeline Press: CFPB, NY, and Maryland Target Title Companies – More Regulators on the Way?
- MBS Commentary: MBS Day Ahead: Weak Enough to Bounce or Weak Enough to Suggest More Selling?
- MBS Commentary: MBS RECAP: Role Reversal: GDP And Morning Trading Trump FOMC
- Mortgage Rate Watch: Mortgage Rates at 6 Week Highs, But Why?
- MBS Commentary: MBS MID-DAY: Bond Markets Fear The Nudge
If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/mortgage_rates/blog/467398.aspx
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CFPB, NY, and Maryland Target Title Companies – More Regulators on the Way?
CFPB, NY, and Maryland Target Title Companies – More Regulators on the Way?
Posted to: Pipeline Press
Thursday, April 30, 2015 8:55 AM
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I travel around a fair amount, spending time with lenders, Realtors, and TSA personnel. A major concern among the first two groups is whether or not real estate agents – especially those that only close a couple deals a year – are going to be ready for the TRID changes on August 1. NAR is indeed trying to educate through videos. And this video is a reminder about what is happening with the good ol’ HUD-1. Down a couple paragraphs is more information about TRID-mania. Are 30 day contracts a thing of the past?
Speaking of TILA-RESPA and keeping abreast of changes…
More from MND:
- MBS Commentary: MBS Day Ahead: Weak Enough to Bounce or Weak Enough to Suggest More Selling?
- MBS Commentary: MBS RECAP: Role Reversal: GDP And Morning Trading Trump FOMC
- Mortgage Rate Watch: Mortgage Rates at 6 Week Highs, But Why?
- MBS Commentary: MBS MID-DAY: Bond Markets Fear The Nudge
- Pipeline Press: Homeownership Stats; CFPB Penalties; Rant on Millennials, Why They Aren’t Buying
If you have trouble viewing this email, you can read the full post at http://www.mortgagenewsdaily.com/channels/pipelinepress/04302015-trid-training.aspx
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