The United States does not have the only government that is knee-deep in controlling lending and real estate. Beijing, which already has China’s strictest real […]
“Rob, are you seeing underwriting guidelines loosening up?” Certainly, on the banking side, depository banks are flush with deposits, and the demand for loans is […]
Yes, Sunday is Father’s Day. The idea of Father’s Day arose in 1909 by Sonora Dodd of Spokane, Wash., while she listened to a Mother’s […]
Are you looking forward to a day off tomorrow? Me neither – the commentary never sleeps – but agencies like HUD and the IRS are. […]
Rates are still pretty low, and higher rates mean our economy’s doing better, right? Let’s compare them to, say, Mongolia. Business Week reports that “Mongolia’s […]
The plain fact is that people need, and for the most part want, a roof over their heads. According to an online survey conducted by […]
I am in Atlanta for a couple days, visiting with the Atlanta Mortgage Bankers Association. Some of the conversations involve the $76 million that is […]
The broker segment continues to mull over the final “final” rule from the CFPB regarding compensation. Sure, there are some nuances, but many boil the […]
Jun. 7, 2013: Genworth job cuts; mo’ flood insurance across the nation; recent disparate impact cases; CFPB employees unionize
Yes, mortgage rates are higher than where they were a month ago. We aren’t in an “ARM market” quite yet although intermediate ARMs are seeing some renewed interest and thus some interest in brushing up on ARM indices. The latest news comes from Europe, where officials are trying to restore some trust in the validity of LIBOR: http://www.reuters.com/article/2013/06/06/eu-libor-idUSL5N0EI0U620130606. But speaking of intermediate ARMs, yesterday’s prepayment report for May showed that fixed-rate loan early pay-offs picked up slightly but that hybrid ARMs saw “meaningful” prepayments. But LOs and investors know that with the recent sharp move higher in mortgage rates speeds on fixed rate product will slow significantly in coming months. Hybrid ARM prepayments continued to rise from February lows across ARM products, with the largest increases coming on post-2009 production. With hybrid ARM advertised rates moving only modestly higher one would expect prepay speeds will tick higher before slowing, as some borrowers look to refi before rates rise more substantially off the bottom.
¿Cómo se dice CFPB en español? I don’t know, as high school Spanish is a distant blur (the potlucks were great)…but the CFBP probably knows. […]
