Guaranty Mortgage

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Much Narrower Ranges Than Friday. Preparing For NFP
Posted To: MBS CommentaryFN 4.5's close (surprise surprise) UNCHANGED at 100-13+, the middle of it's trading range today 10yr yield closes at 3.867, also the middle of it's trading range today Stocks indeed thwarted by 1174 in the S&P. There were technical levels mentioned in the previous post of 3.867 in treasuries, 1174 in the S&P and a range of 100-10 to 100-16 in MBS. Those levels should look fairly familiar as the 10yr closed right at this level, the S&P just under 1174 (1173.22 to be exact), and MBS smack dab in the middle of their range. In bonds, both MBS and treasuries orbited, honed in, coiled, triangled, and narrowed into their midrange values all day long: Pretty standard fare for an NFP week where no one wants to get too far out of the boat as Friday's data has a tendency to…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Administration Adds $600 Million to State Housing “Hardest Hit” Program
Posted To: MND NewsWireToday, adding to the first Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (the "HFA Hardest Hit Fund"), the Obama Administration announced an expansion of the initiative to target five additional states with high shares of their populations living in local areas of concentrated economic distress . Housing Finance Agencies or HFAs are agencies or authorities created by state law that are charged with helping persons and families of low or moderate income attain affordable housing. According to the National Council of State Housing Agencies (NCHSA), its member agencies have provided mortgage financing for nearly 3 million homes in America and helped finance construction of approximately 3 million affordable rental properties. Combined, State HFAs typically…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

How to spend extra money smartly
Pay down credit cards, but also set a budget and save some cash in an emergency fund for hard times.

Best Levels of the Day Hit. Rates Now Chopping in Opposite Direction
Posted To: MBS CommentarySecurity has been tightened up across the U.S after two suicide bombers attacked the Moscow metro system this morning, killing at least 38 people and injuring 65 more. Islamic extremists from the North Caucasus region of Russia are believed to be the source of the bombing, however authorities are not taking any chances after an Al-Qaeda plot to attack the NYC subway system was foiled in late 2008. In D.C and New York there are bomb sniffing dogs patrolling train/metro/subway stations and civilian law enforcement tensions are high. No one go Michael Douglas, " FALLING DOWN " please… The most obvious headline to me in the rates market today would be the long bond hitting a nine-month yield high today. Read more below… The long end of the yield curve is the biggest loser today. In…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

TARP Funding to Play Expanded Role in Tackling Housing Crisis
Posted To: Voice of HousingLast week the Administration announced several adjustments to the Making Homes Affordable Loan Modification Program (MHA/HAMP) and modified the existing FHA Refinance Program . These actions, paid for in part by TARP funds, are designed to address a growing population of distressed borrowers (and also those unemployed) without costing the tax payer additional income. The Obama Administration's allocation of TARP funds to pay for the newly updated programs is something that was advocated during the fall of 2008. In August 2007, the FHA made a similar decision aimed at helping delinquent and overburdened borrowers when it launched FHASecure. The product, which ultimately assisted 525,000 at-risk homeowners through a rate/term refinance, was designed to deliver aid to subprime borrowers whose…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Misconceptions of Reverse Mortgage Reality. Getting Past Preconceived Notions
Posted To: Community CommentaryI received a call from a woman inquiring about a way to help her aging mother who owns a home but is currently in a nursing home. When I mentioned “reverse mortgage” she instantly stated, “I don’t want her in a reverse mortgage.” Before I could get a better understanding of the circumstances to see if a reverse mortgage was even an option, the conversation ended. Her mind was already made up that reverse mortgages “are bad”, there was no opportunity for me to educate her on the facts of the program. I’ve had seniors tell me their friends informed them to avoid reverse mortgages. When asked “Why?”, the response I receive is usually along the lines of: “We’ve heard bad things about them. They are a scam.” But when I…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Widespread Reprices for the Better Reported. Still Battling Resistance Levels
Posted To: MBS CommentaryFannie 4.5's up 10 ticks to 100-14, Near Highs Of The Day 10yr yields down 3bps to 3.85, also near best levels of day. Stocks Down Moderately Across The Board Fed Speak From James Bullard at 4pm Eastern Clock ticking down rapidly to most epic display of "holding ground" in recent memory A couple important things: IMPORTANT THING 1: We often discuss the difference between the 3pm "marking" and the 5pm "close." As you may know, there are important difference between these two times, and they are both justified in being thought of as "the close." It's no coincidence that a lot of the street level commentary referencing "the close" comes out shortly after 3pm, even though bonds continue to trade until 5pm (MBS go to 5pm every day whereas…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Raising Capital to Grow Your Mortgage Operation: Preferred vs. Common Stock
Posted To: The Garrett Watts ReportWe receive many inquiries about raising capital. With the increase in capital requirements from the FHA, GSEs, warehouse lenders, investors and broker dealers—owner /operators of mortgage banking companies are confronted with the dilemma of building their balance sheet through organic growth (earnings) or raising outside capital from investors. Subordinate debt can help liquidity needs and help meet some warehouse lender requirements, but it is not really capital. Capital can be exchanged by issuing two types of stock: Common and Preferred Stock Let’s look at two approaches of raising capital. Common Stock: Common stock is a form of corporate equity ownership, a type of security. It is called "common" to distinguish it from preferred stock. In the event of bankruptcy, common…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Halloween costumes are fast approaching, so most of the kids have been talking at huge length about the costume they desire this year for Halloween party. Ghost: Ghost costumes are normally inexpensive costume. Only thing we bought was some spray on [...] Economical ideas for Halloween Costumes Hippie: Any old clothes, sandals and dyed your own shirt by using some old fabric paint, which would not clutch out of the bottle good, cut the achieve and mixed it with water and dipped the shirt in then drew cipher on it with a enduring marker.
San Diego Ca Real Estate listings

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Improving [...] Even if it is just by a couple hundred dollars a month, it is worth it. If you are serious about reducing your debt, lowering your payment, or just getting some things done around the home you have been meaning too, now is the time. Denver Mortgage Author bio:- Coloradomortgagestore.com connects you with Denver mortgage broker professionals, dedicated to providing every client with the right Colorado mortgage loans. The time is now It cannot be said enough that right now mortgage rates in Colorado are lower than they ever have been.
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Fairway Independent Mortgage Corp. announced the promotion of its senior vice president of technology to president of mortgage operations. In addition, its chief operating officer was promoted to president of capital markets and risk management. Fairway reported that residential loan originations last year were up more than two-thirds from 2008 production.

The Mortgage Compliance Litigator
Massachusetts Attorney General Martha Coakley said that Countrywide Financial Corp. agreed to a settlement that will provide an estimated $18 million in loan modifications — including principal loan reductions — to borrowers in the state as well as a $4 million cash payment to the state. In a lawsuit against Wells Fargo Home Mortgage Inc., the plaintiff alleges violations of the Truth in Lending Act, according to the decision. An Arizona borrower won a judgment against American Home Mortgage for allegedly aiding and abetting an unlicensed real estate broker and convicted felon in a mortgage fraud scheme, the plaintiff’s counsel said in a statement.

Over 50 Firms Fail This Year
The Georgia Department of Banking and Finance shut down McIntosh Commercial Bank on Friday and handed it over to the Federal Deposit Insurance Corporation as receiver. In all, four banks failed on Friday. Including all mortgage-related operations that have closed down, MortgageDaily.com has tracked 53 closings during 2009.

Want a vacation? Deals are everywhere
The recession has produced phenomenal travel opportunities. Here’s how to find them.

Posted To: MBS CommentaryThe bond market is losing steam ahead of the 1pm bid cut off for $32 billion 7 year notes. The 10 year Treasury note is trading at 3.89%. This pushed the FN 4.5 hit to a new intraday low of 99-30. This is 9 ticks below the morning price highs… PARNERTIA AT WORK! Reprices for the Worse are Possible! This was not unexpected ahead of more debt supply…the true test of the bond market's sentiment will come in the hours/days that follow. NEXT EVENT : $32 billion 7s at 1pm…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

MBS Break Downtrend. End Day Above Price Lows
Posted To: MBS CommentaryMBS 4.5's unchanged at 100-05 10yr tsy yield up 0.033 to 3.8835 In and of itself, today was relatively contained Yesterday was the killer with today a moderate extension Tomorrow's data is critical If we forget that MBS lost about a point yesterday and that treasuries rose more than 10bps in yield, today is mild by comparison. MBS were unchanged on the day with just over three eighths of a point trading range. The 10yr was confined to what was mostly a 5-6bp range. Furthermore, several of the weak trends from yesterday were ultimately broken today, however, a gentler uptrend in yields remains intact on the 10yr. But these 2 day technicals may not matter much depending on how tomorrow's data shakes out. If it's weak enough it could cause a bond rally that at least brings the…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

The Day Ahead: US$ Down, Equities Up Ahead of Jobless Claims
Posted To: MND NewsWireEquity and commodity prices are looking upwards this morning ahead of weekly labor data. 90 minutes before the opening bell, Dow futures are trading 39 points higher at 10,826 while S&P 500 futures are up 5.25 points to 1,169.00. NYMEX crude oil futures are up 41 cents to $81.02 per barrel and Gold up $7.45 to $1,094.55. Conversely, the US$ index is down 16 basis points to 81.67, following its largest daily gain in three and a half months yesterday, according to BMO Capital Markets. Even so, ahead of the EU summit in Brussels, the euro continues weaken. It fell to $1.3284USD overnight, marking its lowest level versus the greenback since early May. Key Events Today: 8:30 Initial Jobless Claims have so far averaged 460k claims in the first two weeks of March, down from 471k in February…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Treasuries Trying to Re-Enter Range. MBS at Price Highs. Reprices Due
Posted To: MBS CommentaryI have good news and bad news. The good news : benchmarks are testing the market's willingness to re-enter the 3.57 to 3.85 range. The bad news : benchmarks are finding it difficult to re-enter the 3.57 to 3.85 range The 3.625% coupon bearing 10 year TSY note is +0-06 at 98-03 yielding 3.858%. So close!!! Here is another look at the 3.57 to 3.85 range. Notice 10s tested the 3.90% level once before….it is encouraging that selling stopped out and real money bargain buying picked up at this same level. I have nothing but good news for mortgages. "Rate sheet influential" MBS prices are higher, current coupon yield spreads are tighter, and REPRICES FOR THE BETTER ARE ABOUT TO/HAVE HIT YOUR INBOX!!! This should help originators start to refill their empty pipelines (not talking about…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Friday MBS Rally Gives Pause To Interest Rate Pessimism
Posted To: MBS CommentaryBond Bulls were outcasts this week Stocks No Gems Either as Risk in general took a vacay MBS up 8 ticks at 100-12, Tsy's cross the 3pm marking period smack dab on 3.85 Could it turn out to have been bond market's big bluff of 2010? If you missed the last few posts discussing the importance of 3.85, The last post is a good refresher. Knowing that, Rawe did indeed hit that mark when 3pm rolled around. We can see action around a 100-10 pivot point in MBS. If we open up north of that on Monday, that looks like as good a lock trigger as any at the moment. On the bottom half of the chart, we see treasuries fighting with, and ultimately breaking 3.85, but potentially meeting further resistance from a gently sloped trendline forming from interday lows (teal line). The bigger question from a…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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?”

Q4 Final GDP: Contraction in Business Inventories Adds 3.79 Percentage Points to Output
Posted To: MBS CommentaryToday we got the "final" read on Q4 GDP. I say "final" because this report will be revised for years to come, it just won't be highly publicized. The market was expecting Q4 GDP to come in around +5.9%. This would have been no change from the "preliminary" GDP print (the first revision of the "advance" data). The actual print: +5.6%. This was worse than anticipated The increase in real GDP in the fourth quarter primarily reflected positive contributions from private inventory investment, exports, personal consumption expenditures (PCE), and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased. The Federal Reserve's preferred gauge of inflation, the Core PCE Price Index (strips out food and energy…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Widespread Reprices for the Better Reported. Still Battling Resistance Levels
Posted To: MBS CommentaryFannie 4.5's up 10 ticks to 100-14, Near Highs Of The Day 10yr yields down 3bps to 3.85, also near best levels of day. Stocks Down Moderately Across The Board Fed Speak From James Bullard at 4pm Eastern Clock ticking down rapidly to most epic display of "holding ground" in recent memory A couple important things: IMPORTANT THING 1: We often discuss the difference between the 3pm "marking" and the 5pm "close." As you may know, there are important difference between these two times, and they are both justified in being thought of as "the close." It's no coincidence that a lot of the street level commentary referencing "the close" comes out shortly after 3pm, even though bonds continue to trade until 5pm (MBS go to 5pm every day whereas…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

RESPA & Changes to Fees Based on Updated Loan Amount; Cali Homebuyer Tax Credit; Principal Reduction Program; Mortgage Jobs
Posted To: Pipeline PressThe official announcement by the Federal Government will come today, but the details came out yesterday about funding & requiring lenders to temporarily slash or eliminate monthly mortgage payments for many borrowers who are unemployed . Banks and other lenders would have to reduce the payments to no more than 31% of a borrower's income, which would typically be the amount of unemployment insurance, for three to six months. In some cases, administration officials said, a lender could allow a borrower to skip payments altogether. And for borrowers who owe more than their home is worth, the US government, with its big budget surplus (right?) will be offering financial incentives for the first time to lenders to cut the loan balances of such distressed homeowners. Are the people who are…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Clown: Use incompatible oversized and too tiny clothes from every body closet to run away from the cost of a wig, make a hat from edifice paper or use an old one, beautify it ludicrously with flowers, pins, etc. These are just a few of the ideas, which could be used during our “Halloween Party”. Soldier or hunter: Living in the south, [...] Draw some of the chains, spider web etc on it with a permanent marker. Economical ideas for Halloween Costumes Ghost: Ghost costumes are normally inexpensive costume.
Sacramento CA Real Estate

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All you have to do is go to www.annualcreditreport.com and request your free report! Credit History Stopping You From Getting The Mortgage mortgage You Want? So it is important to always be apprised as to what is really on your credit report! Credit providers may have reported inaccurate information on your report! Well somebody else thought you should too, and the Fair Credit Report Act (FCRA) was enacted just for this reason. Fixing your credit of accurate negative items takes personal effort [...] Learn What is On Your Credit Report and How to Fix It!
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Mortgage Cycling Secrets Revealed To learn more, get a free realestate investing course, and see a photo of a beautiful home he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com To keep it simple, set aside extra money every month and apply it to the funding. You could cash in stocks and apply the money to the mortgage, but will you be giving up a 9% return to pay down a 7% mortgage? The safest way of “mortgage cycling” is to just put large lump sums of money towards your [...]
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