mortgage: HOPE NOW and Get the Number Right George Full Details of the Freeze - 12/10/07 09:05 PM
American Securitization Forum, which represents companies that issue mortgage backed securities, as well as investors, loan servicers and rating agencies, issued a 34 page document outlining guidelines for servicers to follow in streamlining refinancing or loan modifications on adjustable rate mortgages that are scheduled to adjust in the next 2 1/2 years.
The agreement provides … (0 comments)
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mortgage: HOPE NOW-Lenders and Borrowers 12/07/2007 - 12/07/07 01:17 PM
HOPE NOW-Lenders and Borrowers12/07/2007
American Securitization Forum, which represents companies that issue mortgage backed securities, as well as investors, loan servicers and rating agencies, issued a 34 page document outlining guidelines for servicers to follow in streamlining refinancing or loan modifications on adjustable rate mortgages that are scheduled to adjust in the next 2 1/2 … (0 comments)
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mortgage: Mortgage Market Report for Monday November 19th 2007 - 11/19/07 09:30 AM
Mortgage Market Report for Monday November 19th 2007
The Citigroup has been downgraded and may have to write off an additional 4 billion due to sub-prime losses. This is pushing stock prices lower and has improved the bond market as traders park their investments.
Tomorrow the Fed is scheduled to release the first … (1 comments)
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mortgage: Mortgage Market Report for Wednesday November 14th, 2007 - 11/14/07 10:10 AM
Mortgage Market Report for Wednesday November 14th, 2007
The Cato Institute had Fed Chairman Ben Bernake speaking. He showed some big changes in the way the Fed reports information. The new strategy will give a more timely insight into the Fed outlook. The Fed will double the frequency of the reports and … (0 comments)
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mortgage: Mortgage Market Report for Tuesday November 13th 2007 - 11/13/07 09:51 AM
Mortgage Market Report for Tuesday November 13, 2007
Stocks appear to be opening higher on the back of strong earnings from Walmart. The Retail Sales report will be out tomorrow. Traders are expecting a strong retail sales number that could be bad for bonds and good for stocks.
Morgan Stanley has disclosed that … (0 comments)
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mortgage: Sweeping Changes in the Mortgage Industry - 11/07/07 09:52 AM
Wednesday November 7th 2007
The House Financial Services Committee on Tuesday approved a bill that would impose sweeping changes on the mortgage industry, including minimum standards for approving loans and some new liabilities on those who securitize mortgages. These items are sweeping changes for the mortgage industry.
The bill passed on a … (0 comments)
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mortgage: Sweeping Changes in the Mortgage Industry - 11/07/07 09:50 AM
Wednesday November 7th 2007
The House Financial Services Committee on Tuesday approved a bill that would impose sweeping changes on the mortgage industry, including minimum standards for approving loans and some new liabilities on those who securitize mortgages. These items are sweeping changes for the mortgage industry.
The bill passed on a … (2 comments)
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mortgage: Sweeping Changes in the Mortgage Industry - 11/07/07 09:50 AM
Wednesday November 7th 2007
The House Financial Services Committee on Tuesday approved a bill that would impose sweeping changes on the mortgage industry, including minimum standards for approving loans and some new liabilities on those who securitize mortgages. These items are sweeping changes for the mortgage industry.
The bill passed on a … (0 comments)
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mortgage: Mortgage Market Report for Tuesday November 6th, 2007 - 11/06/07 08:42 AM
Mortgage Market Report for Tuesday November 6th, 2007
Headlines have been dominated by news of financial institutions reporting major losses in their mortgage holdings. This has led to the departure of high profile CEO's like Merrill Lynch's Stan O'Neal, who after losing Billions of dollars last quarter, was rewarded with a ridiculous $160 … (0 comments)
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mortgage: California Mortgage Market Report for Monday November 5th, 2007 - 11/05/07 09:03 AM
Mortgage Market Report for Monday November 5th, 2007
More bad news was reported over the weekend from Citigroup, and Stocks are trading lower as a result.
Citigroup, the nation's largest bank, warned it will take an additional write-down from debt investments linked to mortgage-backed securities that have gone bad. The company's chairman and … (0 comments)
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mortgage: Mortgage Market Report for Friday November 2nd 2007 - 11/02/07 09:52 AM
Mortgage Market Report for Friday November 2nd, 2007
The best Jobs number in six months was released this morning. It is more than double market expectations and previous revisions were negligible. The unemployment rate held steady. Stocks opened higher on the strong economic news and Bonds are starting the day with some … (0 comments)
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mortgage: The Morning After the FED CUT..... - 11/01/07 10:46 AM
Mortgage Market Report for Thursday November 1st, 2007
Bonds are moving upward this morning, erasing yesterday's losses. The reason for the rally in Bonds is due to the Stock market being down significantly so far today. This set the stage for a poor Stock open, and money is for now being pushed into Bonds.
As we … (0 comments)
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mortgage: Rate Cut but Mortgage Rates Increase.??? - 10/31/07 04:00 PM
The Fed cut rates today by .25% to the overnight lending rate. You can expect that prime rate will also go down by .25% as well in the next few days.
History shows that mortgage bond prices deteriorated after each Fed rate cut. This means that mortgage rates rose after the Fed had … (3 comments)
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mortgage: Mortgage Report Hang On FED Decision TODAY What is Happening? - 10/31/07 09:35 AM
Mortgage Market Report for Wednesday October 31, 2007
Today is Fed day. At 2:15pm ET, the Fed will release the monetary policy decision and statement. It will be announced across the country.
Bond prices are trading a little lower on some better than expected economic news. Third quarter GDP was reported at … (3 comments)
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mortgage: Keep your seatbelts on TIGHT as the ACTION heats up! - 10/30/07 10:55 AM
The Mortgage Market Report for Tuesday October 30th, 2007
Mortgage Bonds are trading slightly lower and appear to be waiting on the Fed decision.
Today is the first day of the two-day Fed Meeting. The decision and policy statement will come at 11:15am Pacific Time, Halloween.
Stocks are a bit lower today in response … (0 comments)
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mortgage: Historic Day "Black Tuesday" Mortgage Market Report for October 29th, 2007 - 10/29/07 09:23 AM
The Mortgage Market Report for Monday October 29, 2007
78 years ago today - October 29th, 1929 - marks historic "Black Tuesday". The Stock Market plummeted, eventually losing 60% of its value in the following weeks, and the US soon fell into the Great Depression, where unemployment rates were at a historic … (4 comments)
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mortgage: Fed Funds Cut Next Week - 10/28/07 09:53 AM
History shows that mortgage bond prices deteriorated after each Fed rate cut. This means that mortgage rates rose after the Fed had cut rates while many consumers were expecting their mortgage rates to decline. Prime rate will most likely decline after the Fed rate cut that is the index for may … (3 comments)
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mortgage: Mortgage Market Report for Friday October 26th, 2007 - 10/26/07 10:23 AM
Stocks are trading higher, led by strength in Countrywide and Microsoft. The flow of money into Stocks is due to Bonds being sold. Countrywide will be holding a conference call so the markets will hear more about what Countrywide sees in the future This will be interesting to hear Countrywide's outlook for … (0 comments)
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mortgage: Treasury Bonds and Mortgage Rates are NOT Related??? WHAT??? - 10/25/07 04:39 PM
We all have heard the financial media presenting information on the bond markets continually make erroneous assumptions about the relationship of mortgage interest rates with US Treasury Bond and Note prices. This happens because these financial reporters may understand the bond markets in general, but they are not mortgage experts and … (1 comments)
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mortgage: The Mortgage Market Report for Wednesday October 24th, 2007 - 10/24/07 10:36 AM
Stocks are under some selling pressure this morning.
Merrill Lynch, the country's largest investment banker and broker, reported a far more massive 3rd quarter loss. The entire Stock market is trading lower on this news, and this is helping Bond prices improve.
Existing Home Sales for September came in pretty ugly, underscoring the … (3 comments)
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