Guaranty Mortgage

Posted To: MND NewsWireMortgage rates reversed course yet again during the week ended March 4 with the 30-year fixed-rate mortgage (FRM) once more falling below 5 percent. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year FRM averaged 4.97 percent with an average of 0.7 point compared to an average rate of 5.05 percent with 0.7 point the previous week. The 15-year FRM averaged 4.33 percent, down from 4.40 percent the week before. Fees and points remain unchanged at 0.7 point. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) had an average rate of 4.11 percent, down from 4.16 percent during the week ended February 25. Fees and points also declined from 0.6 point to 0.5 point. The one-year Treasury-indexed ARM was the lone exception to the downward trend. The average rate for…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Wrong-headed regulators
I have an article up today — “Want to refinance? Know the details” — in which I describe the Home Affordable Refinance program as confusing.

Posted To: MND NewsWireEquity futures are moderately higher ahead of a fairly light week of economic data. Dow futures are trading 18 points higher at 10,563 and S&P 500 futures are up a 2 points to 1,138. Commodities are also edging slightly higher with WTI crude oil up 33 cents to $81.83 per barrel and Spot Gold up 54 cents to $1,135.19. Meantime, the US dollar is a bit lower against the euro since France’s Nicolas Sarkozy said the continent would help Greece: “if it were necessary, the states of the euro zone would fulfill their commitments.” In terms of data the week ahead doesn’t quite begin until Wednesday afternoon when the Treasury releases its budget statement. On Thursday, weekly jobless claims will be accompanied by the monthly trade balance. Friday’s retail sales index…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Locking Loans Ahead of Employment Report. More to Lose than Gain
Posted To: Mortgage Rate WatchIts been a wild week in mortgage rate land. Lenders have repriced for the better, they have repriced for the worse, only to reprice for the better again! And that's just two days of action. Its been a roller coaster ride to say the least, but some how we've managed to end up right back where we started: MORTGAGE RATES HAVE HELD NEAR 2010 LOWS ALL WEEK The economic calender provided plenty of reason for mortgage rates to move today. The first set of data to be released was Weekly Jobless Claims. This report provides three measures on the health of the labor market: Initial Jobless Claims : totals the number of Americans who filed for first time unemployment benefits Continued Claims : totals the number of Americans who continue to file for benefits due to an inability to find a new job…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

36,000 Jobs Lost in February. Unemployment Rate Holds at 9.7%. Snow Effect Unseen
Posted To: MBS Commentary36,000 jobs were lost in February according to the Bureau of Labor Statistics. The unemployment rate held steady at 9.7%. The payrolls number was MUCH BETTER than expected. The unemployment rate beat forecasts by 0.1%. FEB NONFARM PAYROLLS -36,000 (CONSENSUS -50,000) VS JAN -26,000 (PREV -20,000) FEB JOBLESS RATE 9.7 PCT (CONS 9.8 PCT) VS JAN 9.7 PCT (PREV 9.7) FEB AVERAGE HOURLY EARNINGS ALL PRIVATE WORKERS +0.1 PCT (CONS +0.2) VS JAN +0.2 PCT, TO $22.46 VS JAN $22.43 FEB YEAR-ON-YEAR AVERAGE HOURLY EARNINGS ALL PRIVATE WORKERS +1.9 PCT FEB AVERAGE WORKWK ALL PRIVATE WORKERS 33.8 HRS (CONS 33.7) VS JAN 33.9, FACTORY 39.5 VS 39.9, OVERTIME 2.6 VS 2.8 FEB FACTORY JOBS +1,000 (CONS -15,000) VS JAN +20,000 (PREV +11,000) FEB GOODS-PRODUCING JOBS -60,000, CONSTRUCTION -64,000 FEB PRIVATE SERVICE…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

GSEs: Long Term Rates Again Below 5 Percent
Posted To: MND NewsWireMortgage rates reversed course yet again during the week ended March 4 with the 30-year fixed-rate mortgage (FRM) once more falling below 5 percent. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year FRM averaged 4.97 percent with an average of 0.7 point compared to an average rate of 5.05 percent with 0.7 point the previous week. The 15-year FRM averaged 4.33 percent, down from 4.40 percent the week before. Fees and points remain unchanged at 0.7 point. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) had an average rate of 4.11 percent, down from 4.16 percent during the week ended February 25. Fees and points also declined from 0.6 point to 0.5 point. The one-year Treasury-indexed ARM was the lone exception to the downward trend. The average rate for…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

MBS ALERT: REPRICES FOR THE WORSE POSSIBLE
Posted To: MBS CommentaryThe FN 4.0 is -0-19 at 98-00 yielding 4.192% and the FN 4.5 is -0-17 at 100-28 yielding 4.405%. The secondary market current coupon is 4.33%. The current coupon yield is 63.5 basis points above the 10yr note yield and 59.4bps over the 10 yr swap. While many lenders hit rate sheet rebate by about 30bps at the open, not all desks cushioned pricing. Since the initial knee jerk reaction move lower, MBS prices have fallen further and a REPRICE FOR THE WORSE is possible. I already saw one of the GSEs reprice by another 25bps after the data was released. Looking ahead, I am hopeful the FN 4.5 will find support at the100-28 pivot (that was my pre-payrolls target). 3.68% is our next level of support in 10s….(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Lender Implementation of FHA Flipping Guideline; SAFE Act Still Weighs on Originators, Thornburg Execs in Trouble
Posted To: Pipeline PressA loan agent was seen leaving a title company. "TGIF!" she exclaimed. "Thank God it's Friday?" "No, Thank God it's Funding!" In the mid-60's Woody Allen had a nightclub routine. The contraceptive pill had just come out and he said, "I recently had my first experience with oral contraception. I was at a party the other evening and saw this absolutely fantastic woman! I went over to her and asked if she would go to bed with me. And she said 'No'". Some things are simple, others not. On January 15, 2010, HUD issued a Waiver of Requirements of 24 CFR 203.37a(b)(2) revising exceptions to the FHA Flipping Rule policies . (Notice that HUD did not actually issue a Mortgagee Letter.) The FHA Flipping Rule prohibits FHA financing if the contract…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Watch for ‘cash for clunkers’ scams
Don’t give out personal data to a middleman, and make sure a dealer isn’t sneaking in unwanted fees.

The Day Ahead: Employment Situation Report and Consumer Credit
Posted To: MND NewsWireEquity futures are firmly higher this morning ahead of February employment numbers. Payrolls are expected to continue declining but investors are reacting positively to news that the Bank of Japan could initiate measures to protect the economy from deflation. Overseas markets have been positive across the board, including a 2.20% gain in Japan, a 1.03% gain in Hong Kong, and gains of around 1% in Europe. “The Nikkei posted its strongest week of the year as the yen weakened amid speculation that the BoJ will undertake further easing,” noted analysts from BMO. “Meantime, a successful 10-year bond sale by Greece (which raised €5 bln), and stronger-than-expected factory data, are giving Europe a lift, though the euro is little changed.” Two hours before the opening…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

FHA Extends Deadline to Submit Audited Financials. Elimination of Correspondent/Broker Approval Still Pending
Posted To: MND NewsWireVia email, I recieved the following guidance from the FHA this morning: Subject: Guidance for Currently FHA-Approved Loan Correspondents Regarding Renewal of FHA Lender Approval for 2010 As proposed in a November 30, 2009 via 74 FR 62521 , HUD is seeking to eliminate FHA approval for loan correspondents. Because this rulemaking is still in process and a final rule has not yet been issued, FHA is extending the deadline for the submission of audited financial statements for loan correspondents seeking renewal of their FHA lender approval for 2010. For loan correspondents with a fiscal year end of December 31, and that would ordinarily be required to renew their FHA approval by March 31, 2010, HUD is providing these lenders with an additional 30 days in which to submit their audited financial…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

A successful MHA refi
A note, sent yesterday, from a reader named Matthew.

Software company Pay Per Click Management offers a “CompetitionBuster” feature specifically designed to take advantage of your competition’s “Bid Gaps”. These tools allow you to maintain premium positioning for your ads at [...] The Pros And Cons Of “Bid Gaps” February 16, 2005About the Author:Stan Hauser is a leading expert on effective Pay Per Click Advertising strategies, and creator of Pay Per Click Advertising Guide. Effective Keyword Bidding Strategies You need to have a well thought out bidding strategy so you don’t overpay for your clicks, while still getting the traffic volume you need to reach your goals.
Flathead Lake Montana Real Estate

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What Are Mortgage Points On Mortgage Loans? Your interest rate cannot be reduced or increased beyond reasonable boundaries. Origination points are charged for administrative costs, closing fees and different fees and costs charged by the lender for a particular funding. Flexibility And Limits Thereâ??s a lot of flexibility when it comes to mortgage points. For instance, certain points can be purchased. If you plan to retain ownership of the realestate for many years, then, getting discount points is a smart idea because you can spread the payments over the whole life [...]
Sarasota Florida Real Estate

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4. He is now working as the Director of the Finance Department in http://geniuschoice.com. 4 Effective Ways to Minimize Interest Paid for Your Mortgage Refinance with other bank with a better bargain You may consider refinancing with another bank provided that a more competitive rate is offered. Be sensitive to the economic environment and ask for the bargain at the right timing actively. 1. The bank would try to maintain a good relationship with the “good” customers since the bank has more understandings on the background situation of these customers. [...]
Lip Augmentation

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Wrap Around Mortgage Dallas -What You Must Know The increase in their number has corresponded directly with the rising number of people that are facing difficulties in terms of paying the loans that they owe on their home. mortgage modifications are more common in the financial industry at the moment than they have been for some time. Regarding mortgage help Plano; using a company well experienced company in [...] In fact, they generally tend to make sure that you know your odds of success and how to improve them without making any guarantees.
West Los Angeles Homes

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Choosing the right credit card rewards program can help a smart borrower get through the recession.

‘Official’ owner wants cash for a clunker
This owner may be out of the money. You must be the car’s owner for a least a year to get the cash.

Stock up on staples for pennies
This month’s Frugal Sense winner spends mere pennies to stock up on staples like toothpaste.

The U.S. Department of Justice announced a settlement with Wilmington Finance Inc. and AIG Federal Savings Bank. Both firms are subsidiaries of American International Group Inc. “Today’s settlement is significant because it marks the first time the Justice Department has held a lender responsible for failing to monitor its brokers to ensure that borrowers are not charged higher fees because of their race,” the assistant attorney general in charge of the Justice Department’s Civil Rights Division said in the statement.

Citi Fundings Fall
Fourth quarter 2009 production fell 21 percent from the third quarter, Citgroup Inc. reported to MortgageDaily.com. Compared to the fourth-quarter 2008, originations were down one-third. Full-year residential fundings fell 22 percent from 2008.

Rate trends and firecrackers
A reader named Cindy asks: “Are mortgage rates predicted to go down next week? What things should I be considering before going ahead?”

MBS LUNCH: Watching for Profit Takers and Position Squaring
Posted To: MBS CommentaryHeading toward the 3pm close, the FN 4.0 is +0-07 at 98-18 yielding 4.139% and the FN 4.5 is +0-06 at 101-12 yielding 4.347%. The FN 4.5 is 3 ticks off the intraday price high of 101-15. In the chart below you can see that we've broken out of the range that has contained price action this week. The secondary market current coupon is 4.264%. This is 2.8 basis points below yesterday's 5pm "going out" current coupon level. Ahead of the release of the monthly prepayment report tonight, "rate sheet influential" MBS yield spreads are a few basis points tighter to Treasuries and swaps. The 3.625% coupon bearing 10 year Treasury note is +0-03 at 100-04 yielding 3.608%. Since yields fell after the release of Pending Home Sales data….the market has moved mostly sideways…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

MBS LUNCH: Recovering Price Losses After Rebound from Lows
Posted To: MBS Commentary"Rate sheet influential" MBS prices have recovered from intraday lows, but not before several prominent lenders repriced for the worse. Since then current coupon MBS prices have bounced back to the initial post-NFP low price print. The FN 4.0 is currently -0-14 at 98-06 yielding 4.175% and the FN 4.5 is -0-08 at 101-04 yielding 4.376%. The secondary market current coupon is 4.306%. The current coupon yield is 61.7 basis points over the 10 year Treasury note yield and 57.7 bps over the 10yr swap rate. MBS yield spreads are 5 bps tighter vs. benchmarks today. In the chart above I called attention to the price levels at which most lenders published rate sheets this AM. I also pointed out where several prominent lenders repriced for the worse. Given the 6 tick turn around from 100-28…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

78 In this example, if you used any of the “AutoBid” features offered by many of the Search Engines and set your maximum bid to $.99 ($.01 less than your competitor in the #1 position), the system would put you in the # 2 [...] Sometimes when companies upload keywords into their Pay Per Click Advertising program they set all their bids to the same amount, regardless of where their competitors have set their bids. Effective Keyword Bidding Strategies They could lower their bid to $.80 and still maintain their #1 position, while saving $.20 on each click.
Citrus Heights Homes

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Effective Keyword Bidding Strategies Example Current bid for the #1 position: $.50 Maximum bid that you specify using “AutoBid” $1.00 The amount the system will set your bid: $.51 It’s important to note that the cost per click may never reach your maximum bid. They could lower their bid to $.80 and still maintain their #1 position, while saving $.20 on each click. Google’s system involves some trust on the part of the advertiser, since it’s impossible to tell what you’re competitors are bidding. Why Bid Gaps AppearOften times advertisers in the top [...]
Miami Fl Real Estatelistings

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