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Home Equity ? Let the Market Eliminate Your Private Mortgage Insurance
Author: Administrator2 Dec 2005
Another method to eliminate that PMI! Read on…
Buy a Home With a Government Grant? Avoid this Scam
Author: Administrator30 Nov 2005
If you’ve heard all the info-mercials and are looking at trying to buy a home with a government grant, take a look at this article before you do….
Reverse Mortgages ? A Tax Free Income For Senior Citizens
Author: Administrator28 Nov 2005
Good article on reverse mortgages and seniors….
Good tips to help you cut mortgage refinance fees…
Author: Administrator27 Nov 2005
Be sure to remember these items when refinancing your mortgage….
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Mortgage Rates Mostly Unchanged After Treasury Auction
Author: RSS8 Sep 2010
Posted To: Mortgage Rate WatchWhen economic data is thin the stock market tends to have a larger impact on the direction of mortgage rates. The session began with stocks moving lower yesterday. With no data on the economic calendar to reverse the market's direction, the bond market was able to rally all day (higher bond prices = lower bond yields). This allowed most lenders to reprice for the better. Like yesterday, the economic economic was quiet today. Two events influenced the marketplace... The Department of Treasury auctioned $21 billion 10-year notes today. Before the auction, the bond market made room for new debt supply by letting Treasury prices fall (cheapen). This pushed benchmark yields higher and led MBS prices lower. The issue must have gotten cheap enough because auction demand was strong. This led to a modest...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
USDA Rural Development System Upgrade Complete. Now Processing Conditional Commitments
Author: RSS8 Sep 2010
Posted To: MND NewsWireIn March we learned that USDA Rural Housing funds were expected to run dry by the end of April . A month later, even though the legislation intended to provide the funding had not passed, USDA began issuing commitments for new loans, but there was a caveat: Loan approvals would be "subject to the availability of funds and Congressional authority to charge a 3.5 percent guarantee fee for purchase loans and a 2.25 percent guarantee fee for refinance loans." Finally, on July 29 Congress passed HR 4899 to reestablish the program as one that would no longer be subject to the annual whims of Federal funding but self-sustaining through a 3.5 percent guarantee fee paid by the borrower. Four weeks passed after the Congress did their job and appropriated unlimited funding for the USDA Rural Housing Program...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
Beige Book: Housing Market Experiencing "Sustained Lull"
Author: RSS8 Sep 2010
Posted To: MND NewsWireThe Federal Reserve has released the Beige Book The Beige Book is a compilation of anecdotal information and data on current economic conditions across the country. The findings are NOT THE VIEWS OF FEDERAL RESERVE OFFICIALS ...instead, each Federal Reserve bank interviews key business contacts, economists, market experts, and other sources in their specific district. This report is published eight times a year. They call it the Beige Book because its Beige . This edition was prepared at the Federal Reserve Bank of San Francisco and is based on information collected on or before August 30, 2010. Below is a summary of the findings and a few excerpts on bank lending and housing. I called attention to some of the more important observations. Real Estate and Construction Activity in residential...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
Indirect Bidders Steal the Show at 10 Year Auction. Yields Lower as Shorts Cover
Author: RSS8 Sep 2010
Posted To: MBS CommentaryTreasury just auctioned $21 billion 10 year notes . Auction demand was healthy thanks to one group of bidders specifically. The bond market has responded favorably in post auction trading. The high yield was 2.67%, which was 1.5 basis points below the 1pm "When Issued" yield, indicating bidding was aggressive, mostly because the market was able build in a big pre-auction concession. The bid to cover ratio was 3.21 bids submitted for every 1 accepted by Treasury. This is the strongest btc ratio since the June auction. Primary dealers took down 38.3% of the competitive bid and 18.1% of what they bid on, both metrics are below average. This implies someone else was standing at the ready to support supply offerings. That someone else was indirect bidders! Indirects took home a whopping 54.7% of...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
Purchase Apps Up 6.3%. Refinance Demand Declines 3.1%
Author: RSS8 Sep 2010
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 3, 2010. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by retail mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a low mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out a lower monthly payment. If consumers are able to reduce their monthly mortgage payment and increase disposable income through refinancing, it can be a positive for the economy as a whole (creates more consumer spending or allows debtors to pay down personal liabilities like credit cards). A falling trend...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
New GSE Housing Goals: Is FHFA Putting the Cart Before the Horse?
Author: RSS8 Sep 2010
Posted To: Voice of HousingThe Federal Housing Finance Agency (FHFA), conservator of Freddie Mac and Fannie Mae (the Enterprises), has established its final housing goals for the Enterprises in 2010-2011 . FHFA is required by the Housing and Economic Recovery Act of 2008 (HERA) to set such goals for targeted segments of the mortgage market. As noted by MND last week : “The new rules establish three goals for single-family, owner-occupied home purchases; one for low-income families, another for very low-income families, and a third for families living in geographical areas with lower-income populations, areas with high concentrations of minority residents, or federal declared disaster areas. The goal for disaster areas contains a sub-goal to ensure that the needs of lower-income and minority areas are addressed...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
Potential Spot to Shelf Jumbo Loan Paper; FHA Q&A on Condo Recerts; Buyback Breakdown; Lots of Lender Updates
Author: RSS8 Sep 2010
Posted To: Pipeline PressLenders offering FHA products know that Mortgagee Letter 2010-24 eliminated the unlimited CLTV ratio, and reinstated the requirement that the total of any FHA-insured first mortgage and any subordinate lien may not exceed the applicable FHA loan-to-value and geographical maximum mortgage amount. (Only the FHA-insured first mortgage must be within the FHA maximum mortgage limits.) But lenders may also want to listen in to an FHA "Condo Recertification Industry Call" Q&A session today at 2PM EST . The dial-in number is: 1-877-941-1706 and the confirmation number is: 170410. Yesterday I discussed SRP's, and how it may behoove lenders to contemplate either servicing or subservicing these loans themselves since the market is not "adequately" compensating originators for the value. Obviously...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
The Day Ahead: Beige Book, Treasury Auction, Heavy Corporate Debt Supply
Author: RSS8 Sep 2010
Posted To: MBS CommentaryRecap of Yesterday Lost rate sheet rebate was restored yesterday as the bond market benefited from a reversal of demand for risky assets (stocks sold) and an onslaught of swapable corporate debt supply. Loan pricing was aggressive out the gate so not all lenders repriced for the better, but several of the mid-majors did recall and re-issue. While rebate did improve, less than $1.5 billion in new loan supply was offered by originators in the TBA market with the majority of hedges seen in 4.0 30-year paper, indicating the refi market has slowed since last week (or secondary is over hedged). The benchmark 10-year Treasury note went out +1-00 (32/32) at a price of 100-08 yielding 2.598% (-11.5bps) and the October FNCL 4.0 ended the session +0-17 at 102-31 yielding 3.566%. Swap spreads tightened...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
Mortgage Rates End Losing Streak But Treasury Auctions Loom
Author: RSS7 Sep 2010
Posted To: Mortgage Rate WatchThe week ahead is very light in terms of economic data, that implies we should expect the stock market to continue to provide mortgage rates with directional guidance. If stocks rally, look for mortgage rates to move higher. If stocks fall, look for mortgage rates to improve. The only economic reports on the schedule in the week ahead that have the potential to move mortgage rates will be released on Wednesday and Thursday. Tomorrow the Federal Reserve releases the Beige Book, named for the color of its cover. The Beige Book is a compilation of anecdotal information and data on current economic conditions across the country. The findings are not the views of Federal Reserve officials, instead, each Federal Reserve bank interviews key business contacts, economists, market experts, and other...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
Housing Crisis Needs Localized Approach, Not "One Size Fits All" Solution
Author: RSS7 Sep 2010
Posted To: MND NewsWireEric Rosengren, president of the Federal Reserve Bank of Boston, told attendees at a Federal Reserve sponsored conference on REO and Vacant Property Strategies for Neighborhood Stabilization last Thursday that there may not be a single solution for the housing market as the effects of financial crisis depend on the characteristics of each individual community. Framing the problem affects the solutions you propose, he said. If we assume we are trying solve a problem of foreclosures and REO rooted in the housing bubble, the solutions will tend to emphasize mitigating foreclosures, accelerating the disposition of REO, or advocating for reconsideration of the legal systems approach to personal bankruptcy and foreclosure. If the problem is viewed as being primarily about housing demand, then the...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
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“Ember on track to ship 10 million chips in 2010″
Author: RSS8 Sep 2010
It is always a treat to read good things about a portfolio company. Now that we have a busy U.S. business, one can no longer confine the morning reading to the domestic print and electronic media. According to Mass High Tech, Wellington Financial Fund III portfolio co. Boston-based Ember is going to ship [...]... Read More Now...
Funding opportunity for semiconductors, displays, and solar PV startups
Author: RSS7 Sep 2010
Looking to raise capital? This comes from our allies over at Canada's Venture Capital & Private Equity Association: Invitation for Funding Submissions – two days left! The Canadian Consulate in San Francisco/Silicon Valley, in partnership with the Canadian Venture Capital Association, CVCA, wants to bring an opportunity to your attention. We have been working with [...]... Read More Now...
Dundee: RIM — Recession vs. Soft Landing
Author: RSS7 Sep 2010
The headline caught my eye, I must admit. Although Canadian equity research analysts are maligned for not being sufficiently critical of our home-grown success story, Research In Motion (RIM:TSX, RIMM:Q), the following snapshot from Dundee Securities sees the forest for the trees. For as long as I can remember, RIM has traded based [...]... Read More Now...
Some gentle advice for the Fall capital-raising season
Author: RSS3 Sep 2010
The roads are busier, the weather has turned, a line-up has suddenly appeared at Jimmy The Greek's for a morning Western sandwich. This can only mean one thing: the Fall business season is upon us. We had a really good call yesterday regarding a new deal opportunity, and it struck me that there are some [...]... Read More Now...
Now about that payment reminder, Manulife
Author: RSS1 Sep 2010
It was inevitable. What to do about my insurance? Each Fall, I get a series of polite notices from my insurers at Manulife, reminding me that my Family Term payments are due. Like any responsible, self-employed father with an admiration for George Bailey, I'm worth more dead than alive. This payment cycle forces a moment [...]... Read More Now...
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