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Mortgage News Daily

• MBS RECAP: Big Victory This Week (In Response To Last Week's Big Loss) January 15, 2021
  Posted To: MBS CommentaryBig Victory This Week (In Response To Last Week's Big Loss) Relative to the spectrum of possibilities, ending the week with 10yr Treasury yields under 1.1% is a big victory. Of course that wouldn't have been the case before last week, but everything's relative in the bond market. From here, we'll be […]
• The Real Story Behind The Past 2 Weeks of Mortgage Rate Volatility January 15, 2021
  Posted To: Mortgage Rate WatchIt was easy to get lulled into complacency by the second half of 2020 when it came to mortgage rates. Even as other indicators said rates should be rising, they continued on a calm journey to multiple record lows. 2021 has been very different so far! Covid and its impacts on […]
• Improvements in Forbearance Continue to Slow January 15, 2021
  Posted To: MND NewsWireA decline in the number of forborne loans in those portfolios serviced for banks and private label securities (PLS) accounted for most of the modest downturn in overall numbers last week. Black Knight said the number of active plans dropped by 9,000 loans or 0.3 percent compared to the previous week. The […]
• Freddie Sees Mortgage Originations Contracting Nearly 20% in 2021 January 15, 2021
  Posted To: MND NewsWireFreddie Mac's first quarter 2021 economic forecast is unusually short, and, unlike recent forecasts from either of the GSEs, has relatively few revisions. The company's economists say that nearly a year after the first cases of COVID-19 were diagnosed in the U.S., economic growth remains uncertain, with answers largely hinging on the […]
• Post-2008 Standardized Practices Have Helped Manage Forbearances January 15, 2021
  Posted To: MND NewsWireFannie Mae said that the standardization of servicing standards that followed the 2008 housing crisis appears to have helped the industry manage the recent flood of COVID-19 forbearance plans. The company included a series of questions about forbearance management in its September Lender Sentiment Survey and has now released a special report […]
• Retail, Ops Jobs; Appraisal, Non-QM, Jumbo, DPA Products; Industry Weighs in on Good Freddie/Fannie News January 15, 2021
  Posted To: Pipeline PressAs Flagstar’s Marcus L. points out, “1999 doesn't sound like that long ago until you realize that people with a birth year starting with ‘2’ are starting to be old enough to legally drink.” And plenty of them have student debt, the forgiveness of which is now in the press and could […]
• MBS Day Ahead: Bonds Not Threatened By Stimulus; Consolidation Continues January 15, 2021
  Posted To: MBS CommentaryAfter the GA senate elections, the bond market immediately knew it needed to prepare for additional stimulus, even if moderate democratic voices might serve to limit the size and scope. We hazarded a guess that this was worth 10yr yields rising 25bps, roughly and finding support around 1.17%. Bond traders have now […]
• MBS RECAP: Bonds Playing it Extra Safe Ahead of Biden's Stimulus Details January 14, 2021
  Posted To: MBS CommentaryBonds Playing it Extra Safe Ahead of Biden's Stimulus Details As we discussed yesterday, the strong mid-week rally suggested a good amount of short covering was behind the move. This merely means traders who bet on rising rates were finally cashing in. It doesn't mean there are lots of new buyers interested […]
• MBS Day Ahead: Waiting On Stimulus Details, Shrugging Off Early Reports of $2 Trillion January 14, 2021
  Posted To: MBS CommentaryA few hours after markets closed yesterday, news began coming out regarding a Biden aide mentioning tonight's stimulus proposal would be in the $2 trillion neighborhood. That's quite a bit more than the $1.3 trillion that had been making the rounds a few hours prior (the same number was thrown around more […]
• Warehouse, Sales Jobs; Digital, AMC, Pricing Tools; Comp Survey; Cap. Markets, Broker Products January 14, 2021
  Posted To: Pipeline PressWith the money I’m saving on “Dry January,” I was able to buy some great edibles at the dispensary yesterday. “Come on, come on, listen to the money talk” sang AC DC. Wells Fargo’s stock price is up 60 percent since late Halloween… that’s money! Some are curious about bitcoin, with proponents […]