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Todays News Stories:

Todays News Stories:
Homeowner Equity Reaches All-Time High in Q2
9/20/2019 10:22 AM
Posted To: MND NewsWireTotal home equity, not surprisingly, increased again in the second quarter of the year. CoreLogic"s quarterly Homeowner Equity Insights report, which looks only at properties with one or more mortgages, puts the aggregate increase at $428 billion year-over-year, a 4.8 percent gain. The company says...Read More
MBS Day Ahead: Bonds Just Hoping for an Orderly Escape; Bigger Decisions on Hold
9/20/2019 9:14 AM
Posted To: MBS CommentaryIn the day just passed, bonds trading was exceptionally calm in the wake of Wednesday's Fed day. As I mentioned in the recap , it was one of the least volatile moves relative to expectations of any Fed day reaction I can remember. The consolidative vibes suggest either indecisi...Read More
Fraud, Broker, and LO Products; Correspondent/Wholesale Changes
9/20/2019 7:36 AM
Posted To: Pipeline PressA mile is 5,280 feet. And Central Park Tower on West 57th St. in Manhattan now stands at 1,550 feet, about a third of a mile. I mention this because it is now the tallest residential building in the world , and if you’d like to pony up $6.9 million for a unit, ...Read More
Rates Move Lower for Eighth Consecutive Month, Driving Refis
9/20/2019 7:24 AM
Posted To: MND NewsWireThirty-year mortgage loans closed in August carried an average interest rate of 4.07 percent according to Ellie Mae"s Origination Insight Report. Rates were down for the eighth consecutive month , easing back from an average of 4.18 percent in July. Ellie Mae said the month-over-month decline in ra...Read More
MBS RECAP: Indecisive, Sideways Trading After Fed Day
9/19/2019 4:45 PM
Posted To: MBS CommentaryRelative to the expectation for yesterday's Fed events to cause volatility, the movement we've seen in the bond market has been fairly pitiful in response. Seriously folks... I can't think of a bigger gap between they hype and the outcome with respect to Fed days. Today...Read More
Think The Fed Cut Mortgage Rates? Think Again
9/19/2019 3:23 PM
Posted To: Mortgage Rate WatchHere is exactly what yesterday"s Fed rate cut did to mortgage rates: ABSOLUTELY NOTHING! No Fed rate cut (or hike) will EVER do ANYTHING directly to mortgage rates because the Fed doesn"t set mortgage rates. Don"t let the caps-lock fool you into thinking I"m some angry guy with a k...Read More
2018"s Home Sales Slump Now Fully Erased
9/19/2019 10:17 AM
Posted To: MND NewsWireWhile the increase wasn"t as strong as in July, last month"s existing home sales posted a second straight month of gains and, as previously, the National Association of Realtors® (NAR) credited falling interest rates. Sales of previously owned single-family houses, townhouses, condominiums, and...Read More
MBS Day Ahead: Bonds Set to Battle Potentially Important Level
9/19/2019 8:16 AM
Posted To: MBS CommentaryIn the day just passed, the bond market finally got a chance to sink its teeth into the much-anticipated Fed announcement/forecasts/press conference. Traders were hoping to get a read on whether the Fed rate cut cycle is being treated like a fine-tuning adjustment or the beginning ...Read More
Originator, Servicing, Correspondent Products; Why Extensions Cost Money
9/19/2019 7:52 AM
Posted To: Pipeline PressThe residential lending industry continues to evolve. Lenders are coming and going, moving in and out of business channels. (The latest example being Union Bank, as UBOC is rumored to be in the process of reducing its overall approved broker client base and focusing ...Read More
Fannie Mae Turns Bullish on Construction, Best Levels Since May
9/19/2019 7:38 AM
Posted To: MND NewsWireFannie Mae says consumer spending will continue to support the economy. The company"s Economic Summary for September cites increases in auto and retail sales, real disposable personal income, and real personal consumption expenditures (PCE) as evidence of that strength. In the monthly report, writt...Read More

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