Mortgage Rates: Focus Remains on Friday. ADP Jobs Data Provides Preview

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Today held one of the few market events with the potential to move mortgage rates between now and Friday's employment situation report. And then the release of the Minutes from the December 14th FOMC meeting came and went this afternoon in a rather uneventful manner as far as the secondary mortgage market is concerned. So we cross that event off the list of mortgage rate movers.... While the chances of this move starting tomorrow are not huge, the release of the ADP Employment Report in the morning could provide some directional guidance because that data tends to be a preview of things to come in the Employment Situation Report (released Friday morning at 8:30am). Still, the bigger movements--the kind that could either significantly improve your scenario or make it altogether unobtainable...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: www.mortgagenewsdaily.com

- For more real estate news visit our website at http://www.AzHomeHelp.com

Four Housing Issues to Watch in 2011; Quarterly NMLS Call Reports; Budget Debate Looms; BoA Buyback Resolution Feedback

Hot news from AZ Home Help:

Posted To: Pipeline Press

What do attorneys read about all day? Stuff like this: Woman dies from suspected freak neck massager accident There is no word on whether or not the victim was in the mortgage business, but my bet is that attorneys will be involved either way. Is your company ready to submit its quarterly "NMLS Mortgage Call Report ?" Hopefully you didn't answer, "Huh? What call report?" like I did. In compliance with the SAFE Act, each state law requires companies to submit NMLS Mortgage Call Reports. The SAFE Act specifically requires, "Mortgage licensees to submit reports of condition to the Nationwide Mortgage Licensing System and Registry in such form and containing such information as (it) may require." The NMLS Mortgage Call Report (quarterly) is intended to be completed by all state-licensed companies...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: www.mortgagenewsdaily.com

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates: High Risk Event Ahead

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Happy New Year Rate Watchers! Volatility was abundant in the primary mortgage market last week. Lenders repriced for the worse. Repeatedly. Lenders repriced for the better. Repeatedly. In the end, after all sorts of commotion, mortgage rates were basically unchanged on the week. There is a caveat to add to that "mortgage rates unchanged" proclamation though.... Loan pricing got really segmented in the final two-weeks of the year. Meaning the range of best execution rate quotes being offered by lenders was wider than usual. Some lenders were aggressive. Others were apathetic and chose to end the year in cruise control rather than attempt to add new production to their pipelines. This behavior is actually not out of the ordinary in a year end environment. We commented on the topic in this Mortgage...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: www.mortgagenewsdaily.com

- For more real estate news visit our website at http://www.AzHomeHelp.com

Bill Berliner: Mortgage Market Predictions for 2011

Hot news from AZ Home Help:

Posted To: MBS Commentary

Originally published in the January 2011 issue of Asset Securitization Report (www.sourcemedia.com). While not quite the same as the agonies of 2007 and 2008, 2010 was another calamitous year for the mortgage and MBS markets. Here are my expectations on a variety of topics for 2011. Agency MBS I expect pressure on spreads to widen for at least the first half of the year. The various Fed programs to stimulate the economy are negative for mortgages, and there is also the possibility of significant headline risk resulting from GSE reform efforts, which are (in theory) supposed to be picked up early in 2011. I also don't expect radical changes to the GSEs to result from these efforts. The fundamental disagreements on the future structure of Fannie and Freddie are quite profound, and the path of...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: www.mortgagenewsdaily.com

- For more real estate news visit our website at http://www.AzHomeHelp.com

MBS Battle Three Bond Bearish Reports. Rebate Reduced

Hot news from AZ Home Help:

Posted To: MBS Commentary

The last two economic reports of the year have been released. Chicago PMI was much better than expected. Actually that is an understatement. Chicago PMI was way more awesome than anticipated, beating even the most optimistic of forecasts (Reuters high was 66.0). Every component of the index jumped by several points, including prices paid (cough MARGINPRESSUR Ecough). The overall index hasn't been this high since Reagan was in office and I was 5 years old. The Pending Home Sales print was also better than expected but my initial reaction to any "better than expected housing data is always "eh". The PHS Index is really just bouncing around near record low levels of activity. Call me when GSE reform is done. Call me when we figure out how in the hell we're gonna deal with excessive excess inventory...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: www.mortgagenewsdaily.com

- For more real estate news visit our website at http://www.AzHomeHelp.com

FTC Blocks Loan Mod Consultants from Collecting Upfront Fees; 3Q Loan Production Stats; Florida Extends L.O Licensing Deadline; Unrealized Losses

Hot news from AZ Home Help:

Posted To: Pipeline Press

Starting January 31, the Federal Trade Commission has banned consulting firms from charging up-front fees for negotiating modifications of residential mortgage loans . In Nevada, the Mortgage Lending Commissioner said the constraints of the federal rule "will have substantial impact" on the number of licensed consultants for mortgage loan modifications. His office counts 39 licensed loan modification firms with 185 licensed associates in Nevada. Critics say that the ruling favors large banks, which don't want advocates representing homeowners. As one would suspect, unethical mortgage modification firms often fail to do any work after collecting fees, and the FTC rule will prohibit mortgage modification firms from being paid in advance. FTC PRESSER It took me a few months, but I finally tabulated...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: www.mortgagenewsdaily.com

- For more real estate news visit our website at http://www.AzHomeHelp.com

NAR Sees Gradual Housing Recovery Based on Several Assumptions

Hot news from AZ Home Help:

Posted To: MND NewsWire

The National Association of Realtors released the Pending Home Sales Index for November today. NAR's Pending Home Sales Index measures the number of home purchase contracts that were signed in the monthly reporting period. Once "pending" sales contracts are closed, they are considered an Existing Home Sale. Because the Pending Home Sales index tells us how many contracts were signed, it is considered a forward indicator of Existing Home Sales. A signed contract is not counted as an Existing Home Sale until the transaction actually closes. Excerpts from the Release... Pending home sales rose again in November, with the broad trend over the past five months indicating a gradual recovery into 2011, according to the National Association of Realtors®. The Pending Home Sales Index, a forward...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: www.mortgagenewsdaily.com

- For more real estate news visit our website at http://www.AzHomeHelp.com