Wealth of Women

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Hey, if you can't beat 'em, join 'em . I bet many wouldn't mind making nearly a quarter million a year being a "cutting edge" CFPB regulator - link . Compare that to a story last week in the Wall Street Journal noting, "Government regulators will cut sharply the pay of the executives they hire to succeed the departing heads of Fannie Mae and Freddie Mac, said regulators, which may make it difficult for the struggling mortgage-finance giants to attract and keep qualified chief executives. Some officials even have floated the idea of paying a salary of $1. Whatever ultimate pay arrangement is approved by regulators for Freddie could set a precedent that would be adopted by Fannie." MBA President David Stevens warns that the pool of CEO candidates will shrink as compensation for the post (which...()

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Cash buyers, principally investors, may be putting downward pressure on home prices according to the Campbell/Inside Mortgage Finance Housing Pulse Tracking Survey released Monday. The survey found that investors with cash in hand are able to offer something that homeowners dependent on mortgage financing cannot, a guaranteed sale with a quick closing timeline. This seems to offset the desirability of a higher bid with a mortgage contingency. The Housing Pulse survey found that the trade-off between price and speed is particularly true with offers on distressed properties because the lenders and servicers liquidating the properties generally prefer transactions that can settle within 30 days. The Campbell report states, "While investor bids may not be the first offers accepted, they often end...()

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It's been a choppy morning for MBS. At their lows, Fannie 3.5's hit 102-13, while highs have been mostly capped out at 102-19. The 6/32nds gap between those highs and lows isn't especially wide, so trading hasn't been volatile in that sense. But the juxtaposition of those highs and lows between 9am and 11am is certainly more volatile price action than we've recently seen in MBS. On the Treasury side, 10yr yields have set up a bit of a pivot for themselves this morning after experiencing their own volatile weakness. Yields intially got a supportive bounce off a would-be ceiling around 2.06 before moving up into the 2.09's, and now that they have come off those highs, the same 2.06 level is offering some resistance to further improvements. A break lower could pave the way for a meaningful break...()

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MBS Live : MBS MID-DAY Open MBS Live Dashboard FNMA 3.5 102-17 : -0-04 FNMA 4.0 104-27 : -0-04 FNMA 4.5 106-12 : -0-04 FNMA 5.0 107-25 : -0-01 GNMA 3.5 103-31 : -0-04 GNMA 4.0 106-31 : -0-05 GNMA 4.5 108-26 : -0-05 GNMA 5.0 110-23 : -0-03 FHLMC 3.5 102-12 : -0-04 FHLMC 4.0 104-20 : -0-04 FHLMC 4.5 105-28 : -0-03 FHLMC 5.0 107-08 : -0-02 Pricing as of 11:00 AM EST Morning Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 10:01AM : ALERT: Ourperformace Notwithstanding, MBS Still Getting Hit Pretty Hard It's a bit too early in the day for negative reprices as most lenders are not yet out with rates. Those who are, likely released sheets recently, when current weakness was already in play. Stocks are surging relentlessly, as...()