Author Archive

30
Sep

MBS RECAP: Bond Markets Weather Month-End Storm With Minimal Losses

Posted To: MBS Commentary Month/Quarter-end trading dynamics made for a volatile day in the context of the recent range. It wasn't so much that the moves were big, just that they seemingly came out of left field and ran their course quite quickly. There were two distinct examples of such movement. The first came at [...]

30
Sep

CFPB Targets Title Company Over MSAs

Posted To: MND NewsWire The Consumer Financial Protection Bureau (CFPB) filed a Consent Order on Tuesday against Lighthouse Title, a title insurer based in Holland, Michigan. The order was, the Bureau said, sending “a clear and simple message” that it intends to pursue legal action against financial institutions that pay in any manner for referrals. [...]

29
Sep

MBS RECAP: Bond Markets Erased Friday’s Losses Early and Never Looked Back

Posted To: MBS Commentary Bond markets were in the throes of a late overnight session rally by the time the domestic session began. The rally began at 6:30am Eastern time and continued steadily, with no regard for economic data , until 9am. The day essentially ended there as trading levels never got any better, but [...]

29
Sep

Mortgage Rates Near 3-Week Lows

Posted To: Mortgage Rate Watch Mortgage rates fell at a healthy pace today, bringing them to the lowest levels since September 9th. Gains in bond markets help rates move lower and bond markets were stronger right from the outset today on a combination of factors. Determining the most prevalently-quoted conforming 30yr fixed rate for top [...]

29
Sep

Bank’s ‘repeated failures’ led to 2,000 foreclosures, feds say

While borrowers were trying to save their homes from foreclosure, Flagstar Bank sat on important documents and ‘drove borrowers into foreclosure,’ authorities said.

29
Sep

Why everybody is moving to Texas

Read full story for latest details.

26
Sep

MBS RECAP: Bond Markets May Have Lost Ground, But They Had a Great Day

Posted To: MBS Commentary In case you missed it, today saw one of the biggest ever market reactions to a personnel announcement. Get caught up HERE if you like. There is no question and no debate over the fact that this was the only salient market mover for bond markets today, and that the GDP [...]

26
Sep

Mortgage Rates Just Barely Higher Today; Lower This Week

Posted To: Mortgage Rate Watch Mortgage rates rose just slightly today, but the move was so small that some lenders are unchanged or even a bit better than yesterday. On top of that, the week has been a calm one, resulting in modestly lower rates than those seen last Friday. Although today’s GDP report put [...]

25
Sep

MBS RECAP: Stocks and Europe Help US Bond Markets Battle Back

Posted To: MBS Commentary Yesterday's sell-off was somewhat disconcerting as it raised the possibility that the push back against September's weakness had run out of steam. Today was a relief then, in that MBS and Treasuries proceeded to their best levels in two weeks, thus keeping the hope alive for the bounce back to continue. [...]

25
Sep

Mortgage Rates Back to Recent Lows

Posted To: Mortgage Rate Watch Mortgage rates fell back in line with recent lows after a disconcerting move higher yesterday. In general, rates are still in the process of battling back from their worst few weeks of the year. Weakness during the first half of September resulted in the most prevalent conforming 30yr fixed quote [...]