va: Market Snapshot July 1st - 07/01/11 04:29 AM
The bond and mortgage markets opened a little better this morning ahead of key data points at 10:00 when the June ISM manufacturing report is released and the U. of Michigan consumer sentiment index is revealed. Stock indexes in early trading about unchanged. Manufacturing growth is slowing from China to Europe; China's factory index fell to the lowest level since February 2009, while in the 17-nation euro area, a gauge slipped to an 18-month low. German manufacturing expanded at the weakest pace in 17 months, while Italy, Ireland, Spain and Greece contracted. In the U.K. and India, output growth also slowed.
(0 comments)

va: July 1: News updates from Fannie, CFPB, Congress, and HVCC; It's an NMLS world - 07/01/11 04:28 AM
[I am away from the computer on a daily basis, and my access to e-mail is
sporadic
and not timely. In my place are daily commentaries from a series of very
knowledgeable
mortgage industry people with different backgrounds, and they have been
given very
little direction about what to write about - the latest is below. Our views
may
or may not coincide, but I thank them for their time in volunteering and
helping
 out.]
 
Note:
 
To all those that have served or are serving on active duty: Thank you.
 
Independence Day:
 
"On July 2, 1776 the … (0 comments)

va: Market Snapshot June 30th - 06/30/11 07:39 AM
The bond and mortgage markets opened better this morning after the strong selling the last two sessions taking rates up 20 basis points. The Greek debt issue is off the radar for the moment after its parliament voted to cut spending and qualify for assistance from the IMF and EU keeping Greece from defaulting, at least for now. Safety trades in US treasuries being closed and the very weak treasury auctions this week along with the end of QE 2 today---all combined to drive rates higher in a rapid move. Mix in that the ECB will likely increase its base interest … (0 comments)

va: June 30: View on how to fix the economy; More settlement news - and CW has cost BofA how - 06/30/11 07:38 AM
[I am away from the computer on a daily basis, and my access to e-mail is
sporadic and not timely. In my place are daily commentaries from a series of
very knowledgeable mortgage industry people with different backgrounds, and
they have been given very little direction about what to write about - the
latest is below. Our views may or may not coincide, but I thank them for
their time in volunteering and helping  out.]
 
This IS the economy, stupid...
 
Over the past three and a half years as I've watched my career get
annihilated, my savings accounts dwindle, … (0 comments)

va: June 29: Energy Efficient Mortgages; What might a BofA settlement mean to clients? - 06/30/11 07:35 AM
[I am away from the computer on a daily basis, and my access to e-mail is
sporadic and not timely. In my place are daily commentaries from a series of
very knowledgeable mortgage industry people with different backgrounds, and
they have been given very little direction about what to write about - the
latest is below. Our views may or may not coincide, but I thank them for
their time in volunteering and helping  out.]
 
How You Can Make a Difference
 
(and make a lot of money in the process)
 
I think it's fairly safe to say that … (0 comments)

va: Jun. 28, 2011: What is on a Compliance Officer's radar screen? - 06/28/11 08:13 AM
Jun. 28, 2011: What is on a Compliance Officer's radar screen?Rob Chrisman
[I am away from the computer on a daily basis, and my access to e-mail is sporadic and not timely. In my place are daily commentaries from a series of very knowledgeable mortgage industry people with different backgrounds, and they have been given very little direction about what to write about - the latest is below. Our views may or may not coincide, but I thank them for their time in volunteering and helping out.]It's a lovely Sat morning ... I settle in with a good cup of coffee … (0 comments)

va: Market Snapshot June 28th - 06/28/11 08:11 AM
Treasuries and mortgages opened weaker this morning after a little pull-back yesterday after the weak $35B 2 yr note auction. With one exception (last Friday) the bellwether 10 yr note has traded within a 10 bp range (3.00% to 2.90%) for the last 10 days. Yesterday's weak bid on the 2 yr note may imply that investors are becoming less interested in USA debt at the present low rates; this afternoon Treasury will auction $35B of 5 yr notes, a little better test of that theory.
 
Greece still dominates the news today; a two day strike in the country met with tear gas … (0 comments)

va: June 27: Common Sense Meeting Policy in Mortgage Banking; investor & industry updates - 06/28/11 08:09 AM
[I am away from the computer on a daily basis, and my access to e-mail is sporadic and not timely. In my place are daily commentaries from a series of very knowledgeable mortgage industry people with different backgrounds, and they have been given very little direction about what to write about - the latest is below. Our views may or may not coincide, but I thank them for their time in volunteering and helping  out.]
 
Meeting Agenda/Itinerary Guidelines
 
Though not specific to the mortgage industry, I believe we all have been participants in meetings where the 'leader' of the … (0 comments)

va: Market Snapshot June 27th - 06/28/11 08:07 AM
Treasuries and mortgages opened flat this morning with the stock indexes also about unchanged. At 8:30 May personal income and spending; income up 0.3% and spending unchanged. The core PCE up a little, +0.3%; May personal savings rate +5.0% up frm +4.9% in April. Consumers still saving, a good thing overall but further indication that consumer spending isn't going to be the driver of any potential economic recovery. Historically personal spending accounted for 70% of GDP, now any improvement in the economy has to come from exports and in our view that is a huge hill to climb. The weak spending … (1 comments)

va: Market Snapshot June 24th - 06/24/11 07:37 AM
Treasuries and mortgages a little weaker in early activity but still holding most of the gains of yesterday. The stock indexes in pre-market activity pointing to a little better open at 9:30.
 
At 8:30 May durable goods orders were better than thought, up 1.9% and ex transportation up 0.6%. April durables were revised better, overall from -3.6% to -2.7% and ex transportation from -1.6% to -0.4%. Q1 GDP final report improved from +1.8% in the preliminary report last month to +1.9%. It is old news and the fractional increase is relatively meaningless to traders.
 
Most of the talk this … (0 comments)

va: June 24: Hedge Costs - view from the trenches; Wells Fargo updates - 06/24/11 07:35 AM
Today's Mortgage News
 
 
[I am on vacation, and my access to e-mail is sporadic and not timely. In my place are daily commentaries from a series of very knowledgeable mortgage industry people with different backgrounds, and they have been given very little direction about  what to write about. The third is below. Our views may or may not coincide, but  I thank them for their time in volunteering and helping out.]
 
Hedge Capacity Utilization
 
Given the fact that current mortgage pipelines are not exactly large, one may not think that tracking trading capacity or the lack thereof … (0 comments)

va: June 23: The rise of lending framed by the internet; some light industry news - 06/23/11 05:42 AM
from: Rob Chrisman
 
 
[I am on vacation, and my access to e-mail is sporadic and not timely. In my place are daily commentaries from a series of very knowledgeable mortgage industry people with different backgrounds, and they have been given very little direction about  what to write about. The second is below. Our views may or may not coincide, but I thank them for their time in volunteering and helping out.]
 
Here is a write up on how potential borrowers use the internet to select a lender, followed by some industry news:
 
Internet Lending Begins
 
Just … (0 comments)

va: Market Snapshot June 22nd - 06/22/11 04:30 AM
Treasuries and mortgages trading better this morning, the stock indexes lower. The Greek confidence vote at 5:00 yesterday was close for Prime Minister Papandreou, he got the vote at 155 to 143 with three members abstaining. It wasn't a big victory in terms of the vote count but it did lead to what had to happen to keep Greece in line for another funding by the IMF and EU in July. The next step for Greece is to actually pass all the spending cuts that have to be accomplished in order to avoid defaulting. The euro declined against most of its major counterparts amid … (2 comments)

va: June 22: Communication in the mortgage industry; FAMC's MI underwriting news - 06/22/11 04:25 AM
[I am on vacation, and my access to e-mail is sporadic and not timely. In my place are daily commentaries from a series of very knowledgeable mortgage industry people with different backgrounds, and they have been given very little direction about what to write about. The first is below. Our views may or may not coincide, but I thank them for their time in volunteering and helping out.] I would ask that those of you with me in the mortgage industry, to help to get the truth and real situation in the mortgage industry today, out to the public as best … (0 comments)

va: Market Snapshot June 21st - 06/22/11 04:23 AM
Treasuries and mortgages opened a little soft this morning with the pre-market trade in equities pointing to a better open at 9:30. Stocks look better, with European shares rebounding from a three-month low, and the euro strengthened as the Greek government prepared to face a confidence vote that may determine whether it avoids a default. Oil and palladium gained in Europe.  Today's vote of confidence in Prime Minister George Papandreou is likely to determine how soon the nation can win international aid to shore up its finances. European Union leaders have insisted he gain multi-party support for austerity measures that are a … (0 comments)

va: June 21: HUD training; more reader comments; SEC & counter-party risk; Fed & TILA; PNC to become 5th largest bank? - 06/22/11 04:16 AM
June 21: HUD training; more reader comments; SEC & counter-party risk; Fed & TILA; PNC to become 5th largest bank?
 
 
 
Today we have, in the Northern Hemisphere, 5 hours and 14 minutes more
daylight
than the winter solstice six months ago. For the most part it is something
everyone
north of the equator can be happy about, unless you're on the west coast
working
 New York bond market hours and going to bed 2 hours before the sun sets.
"A bus station is where a bus stops. A train station is where a train stops.
On
my desk, … (0 comments)

va: Market Snapshot June 20th - 06/20/11 04:55 AM
There are no economic reports today; this week economic releases are scarce with May existing and new home sales, durable goods orders and weekly jobless claims about all there is. The headlines this week are the FOMC meeting that begins tomorrow then the policy statement on Wednesday at its conclusion and Bernanke's press conference Wed afternoon; and the ongoing Greece debt problems. 
 
As the economic outlook continues to weaken crude oil is falling; crude this morning at 8:00 am down another $1.40 to $91.60 area, by 10:00 back to unchanged. OPEC refused to increase output at its recent meeting in Vienna, however the Saudis … (0 comments)

va: June 20: Various reader comments; Top 50 bank stats; pretty quiet out there news-wise - 06/20/11 04:54 AM
How hard is it to create a new currency in a digital age? DigitalMoney=DigitalThieves [http://r20.rs6.net/tn.jsp?llr=zy6u9cdab&et=1106121588463&s=8721&e=001Imk9--PXQrVmNPAbOWzL-Iw5mk3zwgv8A9goIbmovGeImejzeOglBNOFvCbJFcdwItCtpVxxqgwamjSkzmvidaqPMewKAVDjRwq_VWtH20HK2lWfCrAEtjXFMZNoa3Q3PKPQMVaZDs9GX4mRZBcSQ4h429s3QNcRJPDRMYq2NtmLpjCGqe2rm2sLjwTfjptGmwLOYIMUV6A6bpH_DlsF7u2EKH7DktICiOu_P4iLcvcCmHkayY7iOV3eEta1O_k99erz06tGa_U=] Reader feedback on current industry trends, borrower education, reverse mortgages, and MI changes continues. "As a peer in the industry, I am pained every time I read that a Realtor or home builder is in the press saying, 'Homebuyers are restrained by stringent lending requirements'. When will they realize that we are back to the lending basics - like documenting borrowers' income and assets? What a concept! So if you call that 'stringent lending requirements,' our industry's media perception and therefore buyer perception is tainted. When … (0 comments)

va: June 17: ING & Capital One; Wells & reverse mortgages; Radian, LPS, RMIC, & Mortgage Harmony - 06/17/11 04:46 AM
"Mama just hung her said head and said, 'Papa was a rolling stone. Wherever
he laid his hat, that was his home...'" The U.S. Census Bureau announced
that among those who moved between 2009 and 2010, almost 44% of them (16.4
million) did so for housing-related reasons, such as the desire to live in a
new or better home or apartment. Additional reasons included 30% with family
concerns (which includes marital status), and 16% for employment. When the
dust settled, in 2010 37.5 million people 1 year and older changed
residences in the U.S., which, at 12.5% of our population, was … (2 comments)

va: Market Snapshot June 17th - 06/17/11 04:43 AM
Treasuries and mortgages opened a little soft early this morning but by 9:00 mortgage prices crawled higher by .06 bp. The main event this week continues to be the Greece situation with the threat of defaults of its debt that if it occurred it may spread to other troubled EU countries. Economic data also has been in play with manufacturing sliding on the NY Fed index and the Philly Fed business index while the housing markets still in depression showed a little improvement in May starts and permits. 
 
The Greek debt saga continues but overnight some apparent progress to getting Greece more money … (0 comments)

 
Brad Cahoone, Mortgage Loan Expert -Real Estate Marketing Mentor (Global Home Finance Inc. NMLS ID:316441)

Brad Cahoone

Mortgage Loan Expert -Real Estate Marketing Mentor

Lewisville, TX

More about me…

Global Home Finance Inc. NMLS ID:316441

Address: 913 N Mill St, Lewisville, TX, 75057

Office: 972(724) 322-2227

Fax: (972) 692-7888

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