Daily Mortgage News

Daily Mortgage News

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  • MBS RECAP: Ending on an Equivocal Note Ahead of Fed Week July 23, 2021
    Posted To: MBS CommentaryEnding on an Equivocal Note Ahead of Fed Week If we look through the small-scale volatility throughout the week, we see bond yields moving back up to last week's lows as of Wednesday and essentially remaining flat since then. In that sense, Monday was the big panic day for markets, Tuesday was […]
    Matthew Graham
  • HR, Post-Closing, Controller, MLO Jobs; NOO, HELOC, Processing Tools; Florida Fraud Case; LendingClub Fee Settlement July 23, 2021
    Posted To: Pipeline PressHow do you know when someone has too much money? How about when they pony up $16k for Tarzan’s 1932 loin cloth ? (“Gosh, if that loin cloth could talk…”) LendingClub is going to have less money to the tune of $18 million due to charging customers hidden fees despite its marketing […]
    Rob Chrisman
  • MBS Day Ahead: Will Friday Finish What Wednesday Started? July 23, 2021
    Posted To: MBS CommentaryAfter a stellar Monday and a big reversal on Tuesday, Wednesday stands out as the week's big shift back toward last week's trading range. Today's session is in a position to finish the job. That would only require minimal weakness at this point. The alternative would be a sideways drift that sees […]
    Matthew Graham
  • MBS RECAP: Bonds Remain Resilient With Help From ECB July 22, 2021
    Posted To: MBS CommentaryBonds Remain Resilient With Help From ECB This morning's ECB announcement proved to be moderately bond-friendly. Combined with weaker Jobless Claims data, it was enough to get bonds started off on a strong note. Gains continued throughout the European trading session. Yields bounced modestly after that but found solid support at 1.27% […]
    Matthew Graham
  • Delinquencies Fall Below Pre-Great Recession Average July 22, 2021
    Posted To: MND NewsWireThe national delinquency rate dropped by 7.62 percent in June and is now 42.39 percent below its rate at the worst of the pandemic. Black Knight, in its monthly report, says the June rate, at 4.37 percent, was also back below its pre-Great Recession average. Still, there are 2.32 million homeowners who […]
    Jann Swanson
  • Mortgage Rates In Best Territory Since February July 22, 2021
    Posted To: Mortgage Rate WatchThis week's mortgage rates are hard to compare to last week's. There are two simple reasons for this. The first is the recent removal of the adverse market fee that artificially increased rates for refinance transactions starting late last summer. The second is the general strength in the bond market compared […]
    Matthew Graham
  • Existing Home Sales Rise Slightly for the First Time in Four Months July 22, 2021
    Posted To: MND NewsWireExisting home sales snapped a four-month losing streak in June. Sales of pre-owned single-family houses, townhouses, condominiums, and cooperative apartments, rose 1.4 percent on a seasonally adjusted annual basis to 5.86 million units, 22.9 percent higher than the 4.77 million rate in June 2020. Activity was higher month-over-month in three of the […]
    Jann Swanson
  • MLO, Ops Jobs; Tech, Hedging, Advertising Compliance Products; Non-Agency Updates July 22, 2021
    Posted To: Pipeline PressHow would you like to compete against a company whose tagline is, “We Do It All, Guaranteed!”? The program is part of an existing Weichert Realtors’ offering called “All Under One Roof” that gives consumers brokerage, mortgage, insurance, and other services. Reducing the friction between taking an application and servicing the loan […]
    Rob Chrisman
  • MBS Day Ahead: Fighting to Stay in New, Lower Rate Range July 22, 2021
    Posted To: MBS CommentaryThis morning's ECB announcement proved to be moderately bond-friendly. Combined with weaker Jobless Claims data, it's been enough to keep bonds inside this week's new, lower yield range marked by a ceiling of roughly 1.30% (we have it marked at 1.295, or 1.29+ for short). We're close enough that it wouldn't take […]
    Matthew Graham
  • MBS RECAP: Defensive Shift Ahead of ECB Announcement July 21, 2021
    Posted To: MBS CommentaryDefensive Shift Ahead of ECB Announcement Coming into the week, there was some speculation that Monday's bond rally was based on expectations for a friendly announcement from the European Central Bank (ECB) on Thursday morning, but it probably makes more sense to ascribe the move to other variables (new covid concerns, trading […]
    Matthew Graham
  • MLO Jobs, Lenders Wanted; U/W Training, Jumbo Products; Customer Service; Upcoming Virtual Events July 21, 2021
    Posted To: Pipeline PressExperienced mortgage loan originators (MLOs) know that a rate lock is a rate lock. The removal of the adverse market fee of .5 for conventional conforming refis above $125,000 has caused conversations about pricing, borrower, and profit strategy. One veteran MLO wrote to me and stated, “If the price had worsened, we […]
    Rob Chrisman
  • Purchase Mortgage Volume Continues to Weaken July 21, 2021
    Posted To: MND NewsWireAfter a strong showing during the week ended July 9, mortgage application volume pulled back. The Mortgage Bankers Association's (MBA) Market Composite Index, a measure of that volume, decreased 4.0 percent on a seasonally adjusted basis during the week ended July 16 although it was 20 percent higher than the prior week […]
    Jann Swanson
  • MBS Day Ahead: Correction Continues as Bonds Test Another Technical Ceiling July 21, 2021
    Posted To: MBS CommentaryWith a moderate dose of weakness in the overnight session, 10yr yields have quickly found themselves on the doorstep of 1.25%--a level that marked the threshold of a fun little party over the past 2 days as yields moved as low as 1.128%. The prevailing belief is that rates are entering another […]
    Matthew Graham
  • Mortgage Rates Substantially Lower This Week, But Under Some Pressure Today July 20, 2021
    Posted To: Mortgage Rate WatchThere are two pieces of big news for mortgage rates over the past few business days. The first arrived last week in the form of the removal of the adverse market fee that artificially increased rates for refinance transactions starting late last summer. The second arrived yesterday in the form of […]
    Matthew Graham
  • MBA Sees New Home Sales at 13 Month Low July 20, 2021
    Posted To: MND NewsWireThe Mortgage Bankers Association is projecting a sizeable decline in new home sales occurred last month as applications for their purchase declined 3 percent month-over-month and were 23.8 percent lower than in June 2020. The change does not include any seasonal adjustment. Based on the application data, gathered from its Builder Application […]
    Jann Swanson

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