Daily Newsletter: Rates Mixed, Still Near Recent Lows; OCC Report on Mortgage Performance; CFPB on HMDA and 1003

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30 Year Fixed
3.39% +0.00
15 Year Fixed
2.73% +0.00
10YR Treasury
1.59% +0.0172
FNMA 30YR 3.5
105.55 -0.05
FNMA 15YR 2.5
104.98 -0.02
View Today’s Rates
Friday September 30, 2016
Mortgage Rate Watch – 3:47PM
Mortgage Rates Mixed, But Closer to Recent Lows
Mortgage Rates were mixed today, with some lenders in slightly weaker territory while others offered modest improvements versus yesterday. The dichotomy has to do with the timing of …
MND NewsWire – 1:54PM
Mortgage Performance Stable as Balances Decline
The second quarter Mortgage Metric Report from the Office of Comptroller of the Currency (OCC) shows a universe of mortgage loans that are performing in a relatively stable manner …
Pipeline Press – 10:35AM
2015 HMDA Data and Dashboard; CFPB Weighs in on 1003 and HMDA Data; ALTA on CD
Are you sure that you want to keep originating FHA loans? There’s a lot of profit per loan, but it is easy to see why some companies like Chase have really pulled back from originating …
MBS Commentary – 9:14AM
MBS Day Ahead: Month/Quarter-End Bond Buying Primer
As we approach the rest of the trading day, keep the info from this month/quarter-end bond buying primer in mind. Remember that the bond market unofficially closes at 3pm Eastern time …

Latest Video


Santelli: Reversals galore

The Week Ahead: September employment

Santelli Exchange: Central banker backstops need to stop

More News from ‘Around the Web’

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.39% +0.00
15 Yr FRM 2.73% +0.00
FHA 30 Year Fixed 3.25% +0.05
Jumbo 30 Year Fixed 3.53% +0.01
5/1 Yr ARM 2.84% +0.04

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.05% 1.21 -0.03
30 Yr. Fixed 3.74% 1.37 -0.06
MBA ** hdr_arrow.png
30 Yr. Fixed 3.66% 0.33 -0.04
15 Yr. Fixed 2.95% 0.38 -0.04
30 Yr. Jumbo 3.64% 0.28 -0.05
30 Yr. FHA 3.52% 0.21 -0.04
5/1 ARM 2.92% 0.40 -0.07
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.42% 0.50 -0.06
15 Yr. Fixed 2.72% 0.50 -0.04
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 2.81% 0.40 +0.01

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 103.97 -0.06
30YR FNMA 3.5 105.55 -0.05
30YR GNMA 3.0 104.77 -0.06
30YR GNMA 3.5 106.27 -0.09
15YR FNMA 3.0 104.98 -0.02
15YR FNMA 2.5 103.58 -0.05
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
TR_Eikon_Email.png
2 YR 0.7697% +0.0118
5 YR 1.1460% +0.0129
10 YR 1.5874% +0.0172
30 YR 2.3132% +0.0256
Prices as of: 9/29/2016 9:50AM EST

23623981

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 and terms are subject to change without notice.
© 2016 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
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MBS RECAP: Bad Day, Good Week, Flat Month

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MBS RECAP: Bad Day, Good Week, Flat Month

Posted to: MBS Commentary
Friday, September 30, 2016 5:04 PM

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While there has been a good amount of volatility in September, it was fairly flat, relative to August’s latest levels. Up until this week, that wasn’t necessarily destined to be the case. The week began with 10yr yields breaking back into the familiar 1.5-1.6 range. Tuesday-Thursday solidified and confirmed the move, with yields ending the day under 1.55 yesterday.

In that context, today’s weakness was somewhat disconcerting. After a calm, slightly stronger morning, selling pressure hit like a freight train beginning around the 9:30am NYSE open.

Most…

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Daily Rate Update: Mortgage Rates Mixed, But Closer to Recent Lows

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dailyrateheader.png
30 Year Fixed
3.39% +0.00
15 Year Fixed
2.73% +0.00
10YR Treasury
1.59% +0.0172
FNMA 30YR 3.5
105.55 -0.05
FNMA 15YR 2.5
104.98 -0.02
View Today’s Rates
Mortgage Rates Mixed, But Closer to Recent Lows
September 30, 2016
Mortgage Rates were mixed today, with some lenders in slightly weaker territory while others offered modest improvements versus yesterday. The dichotomy has to do with the timing of yesterday’s market movements. Bond market began the day in weak territory yesterday but improved noticeably by the end of the day. Some lenders sent out updated (better) rate sheets while others stood pat. Lenders whose rates increased today tended to come from the group that offered improvements yesterday afternoon. Long story short, there was a brief window of the week’s best rates for some lenders yesterday with everyone getting mostly back on the same page today.

Fortunately, that page is still a good one. While rates aren’t quite as low as they were earlier this week, they’re still much lower than they were earlier this month. 3.375% is still the most prevalent conventional 30yr fixed quotes on top tier scenarios. That’s the lowest stably-held rate of all time (there have been lower rates, but only for a few days here and there), even though the upfront costs are slightly higher than they were in early August. That’s splitting hairs though! The point is that, unless you’re examining day-to-day rate movement under a microscope, rates have been holding steady near all-time lows.

Loan Originator Perspective

If you missed this morning’s opportunity to lock and your lender has already repriced for the worse, here is what i would advise. If the 10 year closes at or below 1.60 i would float until Monday. If your lender hasn’t repriced worse or if we close over 1.60, I would lock in today if closing within 30 days. –Victor Burek, Churchill Mortgage

MBS prices have remained at the recent highs, which are not far off from all time highs. I would strongly consider taking the risk off the table and locking in at these levels, even though I am tempted to float the weekend and see how the Deutsche Bank drama plays out. Today closes the month and the quarter, and we now look to December for a possible Fed rate hike. We may not be at the lowest rates ever, but we sure are close. Trying to catch a falling knife is never easy, and can be extremely painful if mistimed. –Gus Floropoulos, VP, The Federal Savings Bank

Friday afternoon saw treasury yields back at 1.60, which is exactly where we started Monday. The last trading day of the month often sees bonds rally due to portfolio requirements, but today seems to be an exception. Like much of the past few months, both treasuries and MBS seem content at current levels. I don’t see a great deal of potential in floating, if the news of possible German bank defaults didn’t boost bonds, not sure what will. Float with caution, or lock and relax. Happy Friday! –Ted Rood, Senior Originator

Today’s Best-Execution Rates

  • 30YR FIXED – 3.375%
  • FHA/VA – 3.25%
  • 15 YEAR FIXED – 2.75%
  • 5 YEAR ARMS – 2.75 – 3.25% depending on the lender


Ongoing Lock/Float Considerations

  • In the biggest of pictures, “global growth concerns” remain the driving force behind the long-term trend toward lower rates
  • Amid that trend, periodic corrections toward higher rates can and will happen. These can happen for no apparent reason, or they can be brought on by changes in expectations surrounding central bank policy at home and abroad, as well as geopolitical and systemic risks
  • Time horizon and risk tolerance are 2 variables to consider when it comes to locking. If you have plenty of time and don’t mind losing some ground, set a limit as to how much higher rates could go before you’d lock to avoid further losses, and then float in the hopes of never seeing that limit.
  • In the shorter-term, it’s always good to look for lock opportunities after rates have been moving lower or sideways repeatedly, especially if they’ve since begun to move back up in any sort of consistent way.
  • As always, please keep in mind that the rates discussed generally refer to what we’ve termedbest-execution(that is, the most frequently quoted, conforming, conventional 30yr fixed rate for top tier borrowers, based not only on the outright price, but also ‘bang-for-the-buck.’ Generally speaking, our best-execution rate tends to connote no origination or discount points–though this can vary–and tends to predict Freddie Mac’s weekly survey with high accuracy. It’s safe to assume that our best-ex rate is the more timely and accurate of the two due to Freddie’s once-a-week polling method).

30 Year Fixed Rate Mortgage
30?w=360
15 Year Fixed Rate Mortgage
30?w=360&p=15YRFRM

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.39% +0.00
15 Yr FRM 2.73% +0.00
FHA 30 Year Fixed 3.25% +0.05
Jumbo 30 Year Fixed 3.53% +0.01
5/1 Yr ARM 2.84% +0.04

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.05% 1.21 -0.03
30 Yr. Fixed 3.74% 1.37 -0.06
MBA ** hdr_arrow.png
30 Yr. Fixed 3.66% 0.33 -0.04
15 Yr. Fixed 2.95% 0.38 -0.04
30 Yr. Jumbo 3.64% 0.28 -0.05
30 Yr. FHA 3.52% 0.21 -0.04
5/1 ARM 2.92% 0.40 -0.07
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.42% 0.50 -0.06
15 Yr. Fixed 2.72% 0.50 -0.04
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 2.81% 0.40 +0.01

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 103.97 -0.06
30YR FNMA 3.5 105.55 -0.05
30YR GNMA 3.0 104.77 -0.06
30YR GNMA 3.5 106.27 -0.09
15YR FNMA 3.0 104.98 -0.02
15YR FNMA 2.5 103.58 -0.05
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
2 YR 0.7697% +0.0118
5 YR 1.1460% +0.0129
10 YR 1.5874% +0.0172
30 YR 2.3132% +0.0256
Prices as of: 9/29/2016 9:50AM EST

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About This Report
Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available. We use a proprietary formula to calculate averages based on best-execution rates from top lender’s rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.
© 2016 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
View this Report in your Web Browser | Forward to a Friend | Subscribe
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.

Weekly Newsletter: Refinancing No-Brainer; 9-Year Low Cash Sales; Price Gains Unsustainable; Inventory Stifling Sales

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30 Year Fixed
3.39% +0.00
15 Year Fixed
2.73% +0.00
10YR Treasury
1.59% +0.0172
FNMA 30YR 3.5
105.55 -0.05
FNMA 15YR 2.5
104.98 -0.02
View Today’s Rates
Friday September 30, 2016
MND NewsWire – 9/29
Even if Refinancing Looks Like a No-Brainer….
Why are so many people holding on to mortgages with high interest rates? Sentiment? Inertia? Apparently not. In the current issue of CoreLogic’s MarketPulse , Principal Economist Molly …
MND NewsWire – 9/28
Cash Sales Lowest Since 2007
The all-cash share of residential sales dipped below 30 percent in June, the first time this has happened since 2007. CoreLogic said on Tuesday that cash accounted for 29.3 percent …
MND NewsWire – 9/27
Versus Inflation, Home Price Increases Are Unsustainable -Case-Shiller
While the annual gains in its nationwide index accelerated slightly in July the S&P CoreLogic Case-Shiller 10- and 20-City Composite Indices showed a slight slowing on an annual …
MND NewsWire – 9/29
Housing Inventory Issues Stifle Pending Sales
Pending home sales were unable to sustain the slight upward tick experienced in July and resumed their downward trend in August, declining by 2.4 percent. It was the third time in four …

Latest Video


New home sales down 7.6% (August)

Median sales price $284,000, down 5.4%

Here’s why you can’t afford to buy that house

More News from ‘Around the Web’

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.39% +0.00
15 Yr FRM 2.73% +0.00
FHA 30 Year Fixed 3.25% +0.05
Jumbo 30 Year Fixed 3.53% +0.01
5/1 Yr ARM 2.84% +0.04

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.05% 1.21 -0.03
30 Yr. Fixed 3.74% 1.37 -0.06
MBA ** hdr_arrow.png
30 Yr. Fixed 3.66% 0.33 -0.04
15 Yr. Fixed 2.95% 0.38 -0.04
30 Yr. Jumbo 3.64% 0.28 -0.05
30 Yr. FHA 3.52% 0.21 -0.04
5/1 ARM 2.92% 0.40 -0.07
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.42% 0.50 -0.06
15 Yr. Fixed 2.72% 0.50 -0.04
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 2.81% 0.40 +0.01

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 103.97 -0.06
30YR FNMA 3.5 105.55 -0.05
30YR GNMA 3.0 104.77 -0.06
30YR GNMA 3.5 106.27 -0.09
15YR FNMA 3.0 104.98 -0.02
15YR FNMA 2.5 103.58 -0.05
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
TR_Eikon_Email.png
2 YR 0.7697% +0.0118
5 YR 1.1460% +0.0129
10 YR 1.5874% +0.0172
30 YR 2.3132% +0.0256
Prices as of: 9/29/2016 9:50AM EST

23623981

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 and terms are subject to change without notice.
© 2016 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
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Weekly Rate Report: Rates Hold Near Long-Term Lows

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weeklyrateheader.png
30 Year Fixed
3.39% +0.00
15 Year Fixed
2.73% +0.00
10YR Treasury
1.59% +0.0172
FNMA 30YR 3.5
105.55 -0.05
FNMA 15YR 2.5
104.98 -0.02
View Today’s Rates
Rates Hold Near Long-Term Lows
September 30, 2016
Market Summary
Mortgage rates recently moved back down to the range that prevailed for most of the past 3 months following Brexit (The UK’s vote to leave the European Union). Last week was just the first phase of that recovery and there was a risk that it would just be a temporary move.

But rates only improved this week, with several lenders offering their best rates in more than 2 months on Wednesday. The most prevalent top-tier conventional 30yr fixed quote remains 3.375%, just an eighth of a point above the all-time low of 3.25%.

There’s still no guarantee we’ll be able to hold this ground, but next week’s economic data could be the deciding factor, with particular focus on Friday’s jobs report.

-Matt Graham, Mortgage News Daily

30 Year Fixed Rate Mortgage
30?w=360
Week in Review
Rates shown below are based on the 30 Year Fixed Rate Mortgage

Beginning Average: 3.42%
Ending Average: 3.39%
Weekly Change: -0.03%
Yearly Change: -0.49%

Friday, September 23, 2016 : 3.42% (-0.01%)
Mortgage Rates continued steadily lower today, adding to a string of improvements that brings them to their best levels in more than 2 weeks. Rates have now re-entered the narrow “post-Brexit” range that began shortly after the UK’s vote to leave the European Union sent rates plunging toward all-time lows.

More detail: “Mortgage Rates Lowest in Weeks”

Monday, September 26, 2016 : 3.39% (-0.03%)
Mortgage Rates were lower again today, marking the 4th straight day of improvements and the 8th day without a meaningful increase. This brings the average lender back in line with levels seen on September 7th. Before that, you’d have to go back at least to early August to see anything lower.

More detail: “Mortgage Rates Match September Lows”

Tuesday, September 27, 2016 : 3.37% (-0.02%)
Mortgage Rates maintained their recent winning streak today, falling for the 5th straight day. The average lender is now offering the best rates in nearly 2 months. You’d have to go back early August or late July (depending on the lender) to see a better combination of rate and upfront cost.

This brings up a caveat that has been important in the past few months. The outright range of rate movement has been exceptionally small! We talk about “rates” moving every day, but that’s just convenient shorthand for “the combination of NOTE RATE and UPFRONT LENDER COSTS.” Those upfront costs are sometimes referred to as “points,” but that isn’t a universal definition. Regardless of the label, this refers to whatever costs the lender is charging (or paying) at closing. These usually include things like origination fee, discount, processing, etc… anything that is paid to the lender.

More detail: “Mortgage Rates Near 2-Month Lows”

Wednesday, September 28, 2016 : 3.37% (+0.00%)
Mortgage Rates finally took a break from their recent winning streak today. While there are a few lenders whose rates are just a hair lower than yesterday’s, most are slightly higher. Moreover, bond market weakness in the afternoon prompted several other lenders to issue mid-day reprices to even higher rates. Of course, all of the aforementioned movement is exceptionally small in the bigger picture, but it does fit the bill of being the first push back against 6 solid days of improvement. That’s the sort of thing that could be taken as a sign to lock if you’ve been waiting for an opportunity.

More detail: “Mortgage Rates Finally Break Recent Winning Streak”

Thursday, September 29, 2016 : 3.39% (+0.02%)
Mortgage Rates were slightly higher again today, marking the second day spent pulling back from a nice move lower that followed last week’s Fed announcement. Although mortgage rates aren’t directly influenced by the Fed Funds Rate itself, quick changes in the expected course of central bank policy can cause volatility for most any lending rate. This has been the case over the past 2 weeks. Rates moved quickly higher after various speeches from the Fed and the European Central Bank earlier this month.

More detail: “Mortgage Rates Edge Higher, But Remain in Low Range”

Friday, September 30, 2016 : 3.39% (+0.00%)
Mortgage Rates were mixed today, with some lenders in slightly weaker territory while others offered modest improvements versus yesterday. The dichotomy has to do with the timing of yesterday’s market movements. Bond market began the day in weak territory yesterday but improved noticeably by the end of the day. Some lenders sent out updated (better) rate sheets while others stood pat. Lenders whose rates increased today tended to come from the group that offered improvements yesterday afternoon. Long story short, there was a brief window of the week’s best rates for some lenders yesterday with everyone getting mostly back on the same page today.

More detail: “Mortgage Rates Mixed, But Closer to Recent Lows”

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.39% +0.00
15 Yr FRM 2.73% +0.00
FHA 30 Year Fixed 3.25% +0.05
Jumbo 30 Year Fixed 3.53% +0.01
5/1 Yr ARM 2.84% +0.04

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.05% 1.21 -0.03
30 Yr. Fixed 3.74% 1.37 -0.06
MBA ** hdr_arrow.png
30 Yr. Fixed 3.66% 0.33 -0.04
15 Yr. Fixed 2.95% 0.38 -0.04
30 Yr. Jumbo 3.64% 0.28 -0.05
30 Yr. FHA 3.52% 0.21 -0.04
5/1 ARM 2.92% 0.40 -0.07
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 3.42% 0.50 -0.06
15 Yr. Fixed 2.72% 0.50 -0.04
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 2.81% 0.40 +0.01

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 103.97 -0.06
30YR FNMA 3.5 105.55 -0.05
30YR GNMA 3.0 104.77 -0.06
30YR GNMA 3.5 106.27 -0.09
15YR FNMA 3.0 104.98 -0.02
15YR FNMA 2.5 103.58 -0.05
Treasuries hdr_arrow.png
Yield Change
Current MBS / Treasury Prices »
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information
2 YR 0.7697% +0.0118
5 YR 1.1460% +0.0129
10 YR 1.5874% +0.0172
30 YR 2.3132% +0.0256
Prices as of: 9/29/2016 9:50AM EST

TR_Eikon_Email.png

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.

© 2016 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

View this Report in your Web Browser | Forward to a Friend | Subscribe
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Mortgage Performance Stable as Balances Decline

Mortgage Performance Stable as Balances Decline

Posted to: MND NewsWire
Friday, September 30, 2016 1:16 PM

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The second quarter Mortgage Metric Report from the Office of Comptroller of the Currency (OCC) shows a universe of mortgage loans that are performing in a relatively stable manner, with any movement toward further improvement. The report covers seven national banks with large servicing portfolios. In total those institutions were servicing approximately 20.7 million first lien mortgages with $3.6 trillion in unpaid principal balances (UPB). The dollar figure represents 37 percent of all first-lien mortgage debt in the US. At quarter’s end, about 89 percent of these loans were being serviced by the national banks for third parties.

One trend which OCC did not mention but which stands out strongly in the graphics is the decline in mortgages, in both number and UPB, that are being serviced by the seven banks.

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2015 HMDA Data and Dashboard; CFPB Weighs in on 1003 and HMDA Data; ALTA on CD

2015 HMDA Data and Dashboard; CFPB Weighs in on 1003 and HMDA Data; ALTA on CD

Posted to: Pipeline Press
Friday, September 30, 2016 8:33 AM

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Are you sure that you want to keep originating FHA loans? There’s a lot of profit per loan, but it is easy to see why some companies like Chase have really pulled back from originating them. Branch Banking & Trust Company, a unit of BB&T Corp, is the latest in a growing list of companies smacked by fines, and will pay $83 million to settle charges that it originated and underwrote federally insured mortgages that did not meet federal requirements. The U.S. Justice Department said that BB&T, as a “direct endorsement lender” in the FHA’s mortgage insurance program, failed to comply with FHA origination, underwriting and quality control requirements.

Yay! “The new HMDA data is out! The new HMDA data is out!” Well, the 2015 HMDA data is out. Have at it!

(READ THE FULL POST)

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