Having invested more than a decade of solid experience in the Real Estate Mortgage Industry (in Retail Banking, Retail Brokerage and Wholesale Banking Lending) along with countless years of cutting-edge, high-technology real estate computer system knowledge, I gratuitously provide my Valued Clients--both "Property Virgins" and Long-Term "Real Estate Gurus"--with informative, analytical, technological, resourceful and expert advice that help them make the best informed decisions for their own unique situations to reach their mortgage planning goals.
Specialties:"I specialize in helping individuals like you and family like yours find, qualify for and own a home of their dream with little or no money down, even with less than perfect credit!"
Posted To: MBS CommentaryIt took 3 consecutive days of pushing into the weakest levels in more than 3 years for bond markets to figure out how to rally by more than a token amount. 10yr yields were 3.5bps lower by the time the 3pm close hit and Fannie 3.5 MBS were 6/32nds stronger at 101-15 (or .19 stronger at 101.47). When we get rallies of this size in the […]
Posted To: MND NewsWireFannie Mae's Economic and Strategic Research Group (ESR) focused on the new Tax Cuts and Jobs Act, passed late last year, in its January Economic Developments report. Like most other economists, Fannie Mae's are upgrading their growth forecasts based on the impact of the bill. Between October 2017 and this month, the average […]
Posted To: Mortgage Rate WatchMortgage rates finally managed to move lower in a small but meaningful way today--something they haven't done in more than 2 weeks! During that time, we've seen average mortgage rates improve on 2 occasions, but in both cases, the gains were small (some lenders even went slightly higher). That's the good news. The […]
Posted To: MND NewsWireBlack Knight notes a significant uptick in seriously delinquent mortgages in December. The number of loans that were 90 or more days overdue increased by 60,000 during the month to 726,000. This is 44,000 more delinquencies than were recorded in December 2016. Although seasonal and calendar related pressures contributed to the increase […]
Posted To: Pipeline PressNow that the government has re-opened and furloughed bison are streaming back into various national parks, let’s turn back to… LO comp? “Rob, are you hearing that some companies are offering loan officers in a single branch multiple rate sheets, so that different LOs have different pricing?” Unfortunately, yes. Given that the goal is […]
Posted To: MBS CommentaryPerhaps you're already well aware that Haruhiko Kuroda is the head of the Bank of Japan (BOJ) , and a Ben Bernanke of sorts when it comes to bringing an aggressive, avant garde stance to Japan's monetary policy, especially with respect to crisis response and quantitative easing. Last week markets read a lot into the fact th […]
Posted To: MBS CommentaryBonds ended in the green today, albeit just barely . Normally that wouldn't be a bad thing, but today's example leaves a bit to be desired. I should start off by saying that today could have been much worse than it was. Indeed, any time we can avoid ending in the red these days is an opportunity to count blessings. With tho […]
Posted To: MND NewsWireWith a stop-gap funding bill likely to be approved tonight, the following will not be germane for long, but it could serve as a template for the next potential shutdown. FHA's Office of Single Family Housing has provided a lengthy list of the availability of services, processes, and technical support, and we have cherry picked wha […]
Posted To: Mortgage Rate WatchMortgage rates pushed up to yet another 9-month high today--something that's become all too common in the past few weeks. Just as troubling is the fact that 10yr Treasury yields--the bigger, more important neighbor that shares the street with mortgage rates--are operating at their highest levels since early 2014. Mortgage r […]
Posted To: MND NewsWireLast year's Federal Reserve actions, raising the target interest rate three times, led to about a 0.75 percentage point increase in the 1-year Constant Maturity Treasury (CMT) note, while the 10-year CMT note barely moved. Freddie Mac's Economic and Housing Research group says this flattening of the yield curve could be a bad […]