ARCHIVED BLOG POSTS
2009
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Mortgage backed securities (MBS) close even today at 101..69 while stocks dropped. Despite the sell off in equities, MBS Bonds were not able to rally becasue of the announcement of next week's Treasury auction volume. The auctions will consist of $44 billion 2 years on Monday, $42 billion 5 ye...
11/19/2009
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We are all forced to live with the Home Valuation Code of Conduct (HVCC) which became law as of May 1 of this year. The law affects single family loans that are sold to Fannie Mae and Freddie Mac. Appraisers are still required to be licensed in the state where the subject property is situated....
11/18/2009
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Mortgage backed securities (MBS) closed down 6 basis points today at 101.69 just above support at 101.50. Since coming close to 2009 highs on Monday, MBS bonds have slid downward. Inflatiion readings were slightly higher than expected and traders are concerned about the massive amount of debt o...
11/18/2009
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RESPA has some elements that bring the old way of doing business to a halt. Do you know what RESPA allows a mortgage originator to give in exchange for a referral, as thanks for a referral or even the promise of a referral. Nothing, zippo, zilch. On the other hand if you wish to reward your cl...
11/17/2009
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Mortgage backed securities (MBS) closed down 12 basis points today at 101.75 below resistance at 101.91. The MBS bonds traded in a fairly tight 40 basis point range. Resistance proved too tough even for tame inflation numbers to push through. Bruyette and Woods agreed today with mortgage maest...
11/17/2009
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This week's economic calendar is packed with High and Moderate impact reports. The week started out today with high impact retail sales. Tuesday will have the moderate impact Producer Price Index (PPI) and the Core PPI. Wednesday will bring the high impact Consumer Price Index (CPI) and the C...
11/16/2009
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Mortgage backed securities (MBS) closed up 25 basis points today at 102.00 resulting in eight consecutive days of gains. A weak manufacturing index reading combined with Fed Chairman Bernanke's assertive comments that inflation will remain low, enabled the improvement. Once again stocks move fo...
11/16/2009
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A tremendous amount of money is spent each year avoiding estate taxes. The reason that so much is spent is that the tax man can make half of a large estate disappear. For those who die testate (with a valid will in place) there are some broad sweeping protecive elements that affect whether or n...
11/13/2009
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A tremendous amount of money is spent each year avoiding estate taxes. The reason that so much is spent is that the tax man can make half of a large estate disappear. For those who die testate (with a valid will in place) there are some broad sweeping protecive elements that affect whether or n...
11/13/2009
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Mortgage backed securities (MBS) closed up 25 basis points today at 101.75 having broken through resistance at 101.75 and below the next level of resistance at 101.91. Good results in this week's treasury auctions combined with the Fed continuing to buy MBS bonds pushed the 4.50% coupon to its h...
11/13/2009
