• MBS RECAP: 3-Day Weekend for Volatility; Waiting on Supply
    by Matthew Graham on March 8, 2021 at 8:38 pm

    Posted To: MBS Commentary3-Day Weekend for Volatility; Waiting on Supply After Friday’s bond market rout, today’s relatively calm trading data stood in stark contrast. On one hand, it’s nice not to see losses accelerate further. On the other hand, it would have been nice to see Friday afternoon’s […]

  • Black Knight’s Deep Dive Into Equity, Forbearance, and the Future Rate Environment
    by Jann Swanson on March 8, 2021 at 3:27 pm

    Posted To: MND NewsWireLast year was a record setting one when it comes to mortgage origination according to Black Knight’s January Mortgage Monitor. It puts the total volume of originations during 2020 at $4.3 trillion, the highest in the company’s records. Refinance originations, to no one’s […]

  • MBS Week Ahead: Weak Range Persists; Minimal Impact From Stimulus Passage
    by Matthew Graham on March 8, 2021 at 3:04 pm

    Posted To: MBS CommentaryOver the past 3-4 months, the prospect of fiscal stimulus has done major damage to the bond market. It wouldn’t have been a surprise to see more weakness this morning due to the confirmation that the full $1.9 trillion made it through the senate (which is as good as full […]

  • Credit, AE, MLO, Branch Jobs; Automation, FHA/VA, Fintech, URLA Products; Events and Training
    by Rob Chrisman on March 8, 2021 at 2:43 pm

    Posted To: Pipeline PressLet’s start the week with a gaggle of questions. Do you feel old knowing that Taylor Swift is older than the four Beatles were when they broke up? Have you heard of “suspicious foreign players” passing themselves off as underwriters in applying for jobs? Have you […]

  • MBS RECAP: Huge Jobs Report, Logical Weakness, and a Nice Bounce, But…
    by Matthew Graham on March 5, 2021 at 10:28 pm

    Posted To: MBS CommentaryHuge Jobs Report, Logical Weakness, and a Nice Bounce, But… Bonds did quite well today considering Powell’s endorsement of higher rates (yesterday) combined with this morning’s significantly stronger jobs report. Most of the push back was seen in MBS, however, and even […]

  • Rates Rising Relentlessly, But Why? And When Will They Stop?
    by Matthew Graham on March 5, 2021 at 10:27 pm

    Posted To: Mortgage Rate WatchInterest rates can’t seem to catch a break. February was one of only a handful of months in the past 2 decades that resulted in a 0.50% mortgage rate spike. Despite hopes to the contrary, March isn’t off to a great start either. Paradoxically, this rate drama means […]

  • UI Urges Abandoning New Fannie/Freddie Amendments
    by Jann Swanson on March 5, 2021 at 4:54 pm

    Posted To: MND NewsWireA new policy paper from the Urban Institute (UI) looks at the recent amendments to the senior preferred stock purchase agreement (PSPA) agreed to by outgoing Treasury Secretary Steven Mnuchin and Mark Calabria, Director the Federal Housing Finance Agency (FHFA) on January 14, […]

  • Rate of Forbearance Improvement Slows as March Expiration Looms
    by Jann Swanson on March 5, 2021 at 4:43 pm

    Posted To: MND NewsWireAs Black Knight has repeatedly predicted, end of February expirations drove the number of mortgage loans in forbearance lower this past week. There was a decline of 22,000 loans in forbearance plans during the week ended March 2, an 0.8 percent decline. Black Knight says that […]

  • CFPB Extends Compliance Date for New QM Rule
    by Jann Swanson on March 5, 2021 at 4:37 pm

    Posted To: MND NewsWireThe Consumer Financial Protection Bureau (CFPB) has proposed to delay the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022. The rule, proposed last June, is designed as a replacement for the so-called GSE patch. […]

  • MBS Day Ahead: Huge Jobs Report; Bonds Weaker, But Surprisingly Resilient to Start
    by Matthew Graham on March 5, 2021 at 3:30 pm

    Posted To: MBS CommentaryToday began with Nonfarm Payrolls coming in at 379k vs 182k forecast. Last month’s numbers were revised up to 166k from 49k. The unemployment rate ticked down a hair without being offset by a drop in the labor force participation rate. The hourly work-week returned to more […]