Texas Home Loans and Refinancing from Local Texas Mortgage Companies

Harmony Of The Trends And The Whole Day Explained In One Chart

3/12/2010 5:47 PM

(A bit long, but another worthwhile closing post to read... with some not-often-phrased-in-such-a-way explanations. I enjoyed writing it at least. Let me know what you think.) You know the "stock lever?" If not, that's the term we use to describe the common occurrence...Read More

Mortgage Rates Higher After Retail Sales Data. Floating into Monday

3/12/2010 3:20 PM

Posted To: Mortgage Rate Watch

While benchmark Treasury yields moved slowly higher throughout the course of the week as our government auctioned debt to raise spending money, mortgage-backed securities managed to maintain a pretty consistent price range. After all was said and done and the auctions were behind u...Read More

What Did Top Performing Mortgage Bankers Earn in 2009?

3/12/2010 2:51 PM

Posted To: The Garrett Watts Report

Audited financials are starting to come in, and they’re confirming what we saw all year. Top performing mortgage bankers made 90-100 bps per loan. That means, for every $100 million you closed, you should have (and could have) earned $900,000 to $1 million. If you didn&rs...Read More

MBS LUNCH: Mortgages Left Behind as Benchmarks Rally

3/12/2010 1:50 PM

Posted To: MBS Commentary

It was an interesting morning in the rates world. Let's start with our fearless leader, the benchmark 10 year note. In below average trading volume, yields rose marginally (at most) in the overnight session before popping higher on the heels of a much better than expected Retai...Read More

Fitch Ratings: Expiring Housing Incentives Likely to Increase Loan Losses this Year

3/12/2010 11:51 AM

Posted To: MND NewsWire

Fitch Ratings is warning that the expiring homebuyer tax credits, the end of the Fed's MBS Purchase Program , and the growing maturity of various government loan modifications programs are likely to increase loss severities on distressed mortgage loans later this year. The report says that thes...Read More

USDA Rural Housing Funds to Run Dry by April. Lenders Already Dropping the Program

3/12/2010 11:04 AM

Posted To: MND NewsWire

USDA Section 502 loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities. There is no required down payment...Read More

Freddie Mac Announces Cut Off Date for Interest Only Loan Apps

3/12/2010 9:43 AM

Posted To: MND NewsWire

As reported on February 26 , Freddie Mac has decided to stop purchasing and securitizating loans utilizing the interest only payment option. Freddie's deadline for PURCHASING these loans was set as September 2010, however no application/LP approval date cut-off was provided in the bulletin. Thi...Read More

Fed MBS Program Update: 98.1% of Funding Used. Looming Exit Yet to Hurt Rates

3/12/2010 8:46 AM

Posted To: MND NewsWire

The Federal Reserve reported on their weekly purchases of agency mortgage-backed securities (MBS). In the week ending March 10, 2010, the Federal Reserve purchased a gross total of $29.4 billion agency MBS. In that week the Fed sold $19.4 billion mortgage-backeds (supported the roll), for a net tot...Read More

Loan Officers Who Sell Real Estate; Wells Expands Market Making in Mortgage-Backeds; FDIC Acts on a Thursday; Freddie Mac Bulletin

3/12/2010 8:42 AM

Posted To: Pipeline Press

Don't forget to "Spring Ahead" this Sunday morning. We lose an hour of sleep. The FDIC made a rare Thursday move and shut down LibertyPointe Bank This bank catered to the Orthodox Jewish community in Manhattan and Brooklyn, and will be taken over by Val...Read More

Retail Sales Improve Across the Board. Rates Move Higher

3/12/2010 8:20 AM

Posted To: MBS Commentary

Retail Sales data has hit screens. It was much better than expected. Rates no likely. February, Retail Sales rose 0.3% vs. an expected decline of 0.2%vs. a revised for the worse +0.1% print in January (from +0.5%) . Excluding autos, sales rose 0.8%, crushing forecasts for a 0.1% im...Read More