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Mortgage News Daily

• Nullification of Auto Loan Rule Has Broad Implications May 22, 2018
  Posted To: MND NewsWireIt only impacts auto lending, but if Mick Mulvaney, acting director of the Consumer Financial Protection Agency (CFPB) keeps his word, a Congressional resolution signed by the President on Monday is likely to have an eventual impact on mortgage and other lending as well. The Joint Resolution, S.J. Res. 57, sponsored by […]
• MBS Day Ahead: The Biggest Risk to Fledgling Bond Bounce May 22, 2018
  Posted To: MBS CommentaryToday begins the 3rd day where US Treasuries aren't imploding after hitting 7 year highs last Thursday. At this point, we might consider the resilience to be some sort of fledgling bounce attempt, even though we can continue to be concerned about technical floors (discussed here ). But let's say that 3.06% […]
• Lender Products; State-Level Changes; Does the Yield Curve Matter? May 22, 2018
  Posted To: Pipeline PressThe U.S. mortgage industry likely recorded an operating loss in the first three months of 2018 due to falling loan volumes and growing expenses, the Mortgage Bankers Association’s chief economist, Michael Fratantoni, said yesterday here in New York. On a personal note, I know many owners and CEOs of residential lenders, however, […]
• MBS RECAP: Bond Yields Struggle to Break Last Week's Floor May 21, 2018
  Posted To: MBS CommentaryThere were no significant economic reports or events today, and only a few newsworthy developments. The biggest of these also happened the earliest (yesterday night, in fact) when the White House announced the suspension of certain tariffs on China. Stock futures liked the news (after all, the threat of a trade war […]
• Mortgage Rates Unchanged to Begin Week May 21, 2018
  Posted To: Mortgage Rate WatchMortgage rates held steady today, which is better than what could be said for most of last week when rates shot up to the highest levels in 7 years. Friday was the only day of improvement, but it was scarcely enough to undo the damage from the previous 4 days. That […]
• Will "Freeing" Fannie/Freddie Improve Housing Finance? May 21, 2018
  Posted To: MND NewsWireIn a prior article we summarized the options the Trump Administration might utilize to reform the residential mortgage financing system should Congress continue to drop the ball. Two noted economists, Jim Parrott and Mark Zandi, writing for the Urban Institute, address the notion of shrinking Fannie Mae and Freddie Mac's (the GSEs) […]
• Lenders: Income Verification Needs for "Gig" Economy May 21, 2018
  Posted To: MND NewsWireLate last year Fannie Mae included questions in one of its National Housing Surveys about working in the "gig" economy. About a fifth of respondents claimed they earned at least some of their income through such employment. Gig-economy workers tend to have flexible work arrangements, working on single projects or tasks preforming […]
• Automated Construction - Robot Frames Small Home in Two Days May 21, 2018
  Posted To: MND NewsWireLast week the National Association of Home Builders (NAHB) reported that severe shortages of construction tradespeople were slowing homebuilding and increasing costs. The shortages, as reported by NAHB's new home builder members, affected all trades from rough carpenters to plumbers and masons. Now, from Australia, comes news that brick masons at least […]
• MBS Week Ahead: Holiday-Shortened Week. Time For Consolidation? May 21, 2018
  Posted To: MBS CommentaryMuch like last week , this week's event calendar is limited in terms of top tier data and events, but nonetheless carries the potential for technical momentum. The underlying reasons are a bit different , however. Last week, the risk was that rates had been super flat and narrow for 2+ weeks. […]
• Digital, Capital Markets Products; Regions Exits Correspondent May 21, 2018
  Posted To: Pipeline PressHello from the MBA Secondary Conference in NY! Lenders are talking about LO comp (“they need to share the margin pain, but no one wants to be the first to outright cut it”) and Amazon…but anyone afraid of Amazon creating a mortgage company should learn a little something about it. For example, […]