fed

Non-QM, Marketing, HELOC Servicing, Automation Products ; Credit Trends

Here in Las Vegas (Why did the Dalai Lama go to Las Vegas? Because he loves Tibet) the population is about 650,000 with all manners of housing, subdivisions, and lifestyles. But around the nation and world, there are numerous ways and places to live. Here’s a story about a former NFL star who says he saved money by living inside Cincinnati Bengals stadium. What do Stowe, Vermont, Whitefish, Montana, and Lake Placid, New York have in common? The three U.S. towns made Travel & Leisure’s 25 Most Beautiful Small Towns. If you only want a house for part of the year, with elevated mortgage rates and home prices having risen considerably, the solution might be buying 1/6 of a house. Or sharing equity, which is what some of your borrowers and homeowner clients consider. “An Unlock HEA gives you cash in exchange for a portion of your home’s future value.” Or one can live underwater. (Today’s podcast can be found here and this week’s is sponsored by Built Technologies. Construction and real estate solutions for better financial management. Improve business performance with faster, smarter tools, for all stages of the property lifecycle. Today’s has an interview with Sasha Ramani, CEO of MPOWER Financing on companies beginning to ditch credit scores when loaning money. Broker and Lender Products and Services The Konami Code is one of the most well-known cheat codes in video game history. Unfortunately, lenders can’t just press a sequence of buttons to make productivity struggles disappear. But that doesn’t mean there isn’t a solution that’s nearly as simple and effective! SimpleNexus, an nCino company, is helping lenders hack the mortgage experience with its single-sign-on mobile homebuying application that connects lenders, real estate agents, and homebuyers from pre-application to close. If you’re attending ICE Experience 2023 this week, SimpleNexus invites you to “Level Up” at booth #125. Come for the free t-shirts and stay for the retro video games and illuminating discussions about the latest advancements in digital home lending. Want to put your name on the mortgage industry’s leaderboard? Earn a top score with SimpleNexus.

Delayed Reaction? Treasury Yields Jump, Mortgage Rates Spike 40 … – Seeking Alpha

Delayed Reaction? Treasury Yields Jump, Mortgage Rates Spike 40 …  Seeking Alpha

Current mortgage and refinance rates for February 21st, 2023: Rates … – Bankrate.com

Current mortgage and refinance rates for February 21st, 2023: Rates …  Bankrate.com

Looking For Silver Linings for Rates and Housing

When it comes to the mortgage and housing markets, there’s been no shortage of gloomy news for months. This generally involves slumping sales, lower prices, and higher rates.  All of the above are interconnected to some extent.  The interconnection can be summed up in a single paragraph: Home prices surged post-covid as demand greatly outpaced … [Read more…]

February Mortgage Outlook: Rates on the Downslope by End of Month – NerdWallet

February Mortgage Outlook: Rates on the Downslope by End of Month  NerdWallet

MSR Monitoring, Marketing, Lead Conversion Tools; USMI on the FHA MIP Cut

Remember, not all math puns are terrible…just sum. Analyzing residential servicing is a combination of math and psychology. If you were an institution thinking of buying mortgage servicing rights (MSR), or a lender running the numbers on retaining servicing rather than selling it to an aggregator like AmeriHome or Penny Mac, you don’t like hearing the saying, “Marry the house, date the rate.” You’d prefer that the loan stay “on your books” well into the future because you want the monthly cash flow. In 2020 and 2021 origination income was dominant. But in 2022 servicing income won the day for those who owned it. What will happen to servicing in 2023? No one has a crystal ball, but if rates stay in the 5’s or 6’s, loans funded in 2020 and 2021 still stick. Prepayments have plummeted: no one wants to pay off their 2.875 percent loan. Of course, there are numerous parties slicing and dicing the numbers. For example, Black Knight’s MSR Index takes a sample current note rate production portfolio and tracks the MSR performance throughout the month by comparing the current value to the first day of the month value. (Today’s podcast can be found here and this week’s is sponsored by Agile, bringing the mortgage capital markets into a new digital era. From lenders to dealers, Agile is the new way to quote MBS. Listen to an interview with entrepreneur and author Alexandra Nolan on launching and growing a successful business.) Lender and Broker Services and Products

Today’s Mortgage and Refinance Rates: February 25, 2023 | Rates … – Business Insider

Today’s Mortgage and Refinance Rates: February 25, 2023 | Rates …  Business Insider

There’s Still a Chance, But…

Both Wednesday and Thursday saw bonds hold their ground and make modest intraday improvements.  Both days contributed to the possibility that Tuesday’s highs had served as some sort of buying cue for bond traders who had possibly seen enough selling.  The result would be a new sideways range from 3.84 to 3.99 with the next breakout to be informed by data.  With yields only up to 3.97% in early trading, there’s still a chance that such a range will hold, but this morning’ PCE data is making things interesting. Fed Funds Futures clearly thought it was something other than irrelevant, even if not on par with previous shocks from NFP and CPI earlier in the month. PCE inflation data hasn’t been worth much market movement recently–mostly because CPI comes out 1.5-2 weeks earlier and tends to bring the same message that PCE brings, even if the outright levels are a bit different.  This time, however, PCE is telling a more inflationary tale, which could be why it has been worth a bigger-than-normal reaction today.