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Mortgage News
last updated: 10 March, 2010 at 14:02
MBS LUNCH: 10 Year Treasury Auction Results and Reactions
<p>Posted To: <a href="/mortgage_rates/blog/">MBS Commentary</a></p>10 year auction has impressive demand, but at higher rates. 3.45 Bid To Cover, but 3.735 % high yield with 70.94% of the bids at high yield MBS and Treasuries both slightly better on the announcement 4.5's are now down only 2 ticks on the day at 100-29 and 10yr yields are back down to 3.72+ from 3.74+ Looking at the resistance at 3.72, that's the first challenge for the bond market if it would like to improve this afternoon. Once that breaks (if it breaks), the rest of the day is very likely "there or better," but until then, stay tuned. For the moment anyway, risks of reprice for the worse are greatly decreased, and probably favor a reprice for the better to a small extent, though I'm not comfortable assuming a rally will take place with these auction results until we've...(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/139523.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139523/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139523" width="1" height="1">

Loan Demand Stagnates. Only One Bright Spot in the Production Slowdown
<p>Posted To: <a href="/news/">MND NewsWire</a></p>The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 5, 2010. The survey covers over 50 percent of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer demand for mortgage loans. A rising trend of mortgage applications indicates an increase in home buying interest, a positive for the housing industry and economy as a whole. Furthermore, in a low mortgage rate environment, such a trend implies consumers are seeking out lower monthly payments which can result in increased disposable income and therefore more money to spend on discretionary items or to pay down other debt. From the release: The Market Composite Index, a measure of...(<a href="http://www.mortgagenewsdaily.com/03102010_mba_mortgage_applications.asp">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139522/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139522" width="1" height="1">

MBS MORNING: Losing Ground As Benchmarks Back Up
<p>Posted To: <a href="/mortgage_rates/blog/">MBS Commentary</a></p>4.5 MBS down 6 ticks to 100-26 10yr Tsy about 5bps higher at 3.743 (vs. 5pm yesterday) Wholesale Trade Improves from -.8% to -.2%, but misses expectation of +.2%, no one cares Pre-Auction Concession + range dynamics weigh on 10's, MBS follow The movements in bonds this AM tells us just how focused the market is on the upcoming auction. Granted, the econ data earlier today isn't exactly "top shelf" (or even middle shelf for that matter), but without a microscope, it's hard to tell if it was even traded. The "room to run" that AQ discussed this AM in conjunction with the standard pre-auction concession is dominating the movements in the benchmark, which itself, is forcing MBS prices lower. Somewhere between an eighth and a quarter of a point has left the YSP building...(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/139513.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139513/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139513" width="1" height="1">

Underwriters: Loan Quality Still in Need of Improvement; Interesting FICO Score Data; Will the Fed sell their MBS Holdings?
<p>Posted To: <a href="/channels/pipelinepress/default.aspx">Pipeline Press</a></p>At the last company Christmas party, loan agents lined up on one side of the room and the underwriters on the other side. The loan agents throw fire cracker at the underwriters...and the underwriters lit them and threw them back. A long-time underwriter wrote to me and opined, "Consumers always want more than what they can afford and we gave them exactly what they wanted for the last 10 years (without any prudent financial advice). I actually like the guideline changes and feel it is necessary to eradicate some of the lackadaisicalness that I hear in some underwriter's voices. Manufacturing quality is still a problem for the Agencies, and originating mortgage companies are still closing loans that are not 100% purchasable by the aggregators upon delivery. Fannie and Freddie have technology...(<a href="http://www.mortgagenewsdaily.com/channels/pipelinepress/03102010-fico-rates-quality.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139459/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139459" width="1" height="1">

MBS OPEN: Rates Ticking Higher Just Because They Can
<p>Posted To: <a href="/mortgage_rates/blog/">MBS Commentary</a></p>Good Morning. I've had some great coaches in my lifetime...none better than my high school/juniors hockey skipper. Many of the messages he bestowed upon me have carried over from the locker room into my professional life. One of my favorites is the K.I.S.S principle. KEEP IT SIMPLE STUPID This is incredibly relevant to the current market environment. The econ calendar isn't providing much meaningful guidance at the moment. Stocks are still showing an unwavering inclination to do what they want, when then want. Politicians are counting votes, leaving some of the most important reform debates of our era at the mercy of party lines. Fiscal affairs abroad are falling victim to heavy scrutiny AND speculation. Overall, this doesn't paint a very clear BIG PICTURE perspective. Well actually...(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/139484.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139484/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139484" width="1" height="1">

The Day Ahead: Inventories, Budget Statement, Treasury Auction
<p>Posted To: <a href="/news/">MND NewsWire</a></p>Investors this morning await the first real data to be released this week. But wholesale trade inventories isn’t a major market mover, nor is the afternoon’s budget statement, so it could be a quiet day if investors prefer to postpone trading until retail sales figures hit the headlines on Friday. One hour before the opening bell, the market is pretty flat. Dow futures are down 1 point at 10,563 and futures on the S&P 500 are up 0.00 points to 1,140.50 Meantime, WTI crude oil is up 31 cents to $81.80 per barrel, and Spot Gold is trading $5.15 higher at $1,127.00. Earlier today the Mortgage Bankers Association said its index of mortgage application rose 0.5% in the first week of March, but it remains down 12.5% from last year. Key Events Today: 10:00 ― Wholesale Trade Inventories...(<a href="http://www.mortgagenewsdaily.com/03102010_day_ahead_budget.asp">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139441/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139441" width="1" height="1">

Explaining The MBS Settlement Process
<p>Posted To: <a href="/mortgage_rates/blog/">MBS Commentary</a></p>10yr Notes progressively improved into the PM , ending 5 ticks better on the day with a yield of 3.70. MBS fought off much of the AM weakness in tsy's, and rallied just as well into the PM, reaching 101-15 at 4pm. But then we ended 4 ticks down on the day at 101-01! WHAT?!?!? So you're tellin' me MBS effectively erased all gains from the past two days?! Not exactly... I'll let AQ explain... -------------------------------------------- If you haven't read the following description of the agency MBS settlement process...please don't skip over it as it may save you from having to change your pants when next month's settlement rolls around. If you have read it...go over it one more time just to make sure the underlying logic is clear. The March FN 4.5 MBS coupon has...(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/139367.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139367/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139367" width="1" height="1">

Commercial and Multifamily Mortgages Outperforming Overall Bank Holdings
<p>Posted To: <a href="/news/">MND NewsWire</a></p>Commercial and multifamily mortgages continue to have the lowest rates of charge-offs of any loan types at banks and thrifts and perform better than the overall loan portfolios at those institutions according to the Mortgage Bankers Association (MBA). In response to what it referred to as a great deal of discussion and conjecture about those loans in recent months, MBA updated an earlier " DataNote " analysis of commercial and multifamily mortgage data from the 4th quarter of 2008 with data from the same period in 2009. The report states that 56 percent of the assets held by banks and thrifts at the end of 2009 consisted of loans and leases, a category that includes 1-4 family mortgages, home equity loans, credit cards and other consumer loans, commercial mortgages, multifamily mortgages...(<a href="http://www.mortgagenewsdaily.com/03092010_mba_commercial_mortgages.asp">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139298/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139298" width="1" height="1">

HUD Enforcing Job Creation Requirements for State and Local Governments
<p>Posted To: <a href="/news/">MND NewsWire</a></p>The Department of Housing and Urban Development (HUD) has released the results of the first stage of its increased oversight and enforcement of job creation requirements under Section 3 of the Housing and Urban Development Act of 1968. In a press release on Monday HUD said that more than 3,100 state and local government agencies that receive HUD funds have responded to its campaign to expand hiring and contracting opportunities for low-income persons and three out of four of HUD-funded state and local agencies had submitted their annual reports. HUD said that this was the largest response since HUD made such reporting mandatory. Under Section 3, state and local governments that receive funding from HUD in excess of $200,000 for activities involving housing construction, demolition, rehabilitation...(<a href="http://www.mortgagenewsdaily.com/03092010_hud_jobs.asp">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139223/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139223" width="1" height="1">

MBS AFTERNOON: Potential Reprices For The Better
<p>Posted To: <a href="/mortgage_rates/blog/">MBS Commentary</a></p>MBS Off To The Races with 4.5's up 8 ticks to 101-15! 10yr up 5 ticks on the day dropping yield to 3.70 (through post auction resistance) Reprices for the better = highly likely From the Ninja: Mortgages are still on hold as today’s 3yr note auction held few surprises-everyone loves the shorter end of the curve; don’t you? $40 billion notes maturing in 2013 is quite commonplace and the sheer size of the issue is no longer an emotional and or logistical challenge to anyone directly (or indirectly, on the bid) involved. No real change to the way we do and or perceive business here in MBS secondary trading land. The market is better into lower and or range-bound rates, like today, and not as excited should the treasury market break out to the upside to prices (and lower interest...(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/139341.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139341/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139341" width="1" height="1">

Risk Weighted Returns; Warehouse Lending Credit Manager Needed; Subprime Analysts Lost; Bank News
<p>Posted To: <a href="/garrett_watts/">The Garrett Watts Report</a></p>We commented last week how a lot of people didn’t know what HSBC stood for... If you go back to when they bought a bank in Buffalo, New York to established themselves in the U.S. The joke was that HSBC stood for "Holy ____, Buffalo's Cold.” City National Bank (Los Angeles) was in the news for paying off all its TARP money last week, but the real story is how they became L.A.’s prestige bank in the first place. Frank Sinatra’s son was kidnapped on a Friday in 1963, and the singer called up Bank of America, Security Pacific and a few other big banks asking for $240,000 to pay the ransom money. The big banks told him to come in Monday morning and fill out a loan application. When he called City National, Chairman Bram Goldsmith told him “Come down to the...(<a href="http://www.mortgagenewsdaily.com/garrett_watts/139010.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139010/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139010" width="1" height="1">

MBS LUNCH: 3 Year Note Auction Results And Reaction
<p>Posted To: <a href="/mortgage_rates/blog/">MBS Commentary</a></p>Immediately following the 3yr Treasury Note auction, treasuries weakened while MBS held steady. Since then, MBS have lost a few ticks, but the 4.5 remains positive on the day, up 1 tick at 101-07. The 10yr note is also up a tick leaving the yield just under 3.72. The 10yr's post auction selling turned the corner very much in line with yesterday's high yields suggesting a shift of guidance to tomorrow's auction. . MBS is building a case for support just over 101-06, but as volume remains fairly light, again, the emphasis is even more squarely on tomorrow's auction than it already was. Until/Unless 101-06 breaks down in a significant way, the chances of reprices for the worse remain limited to "knee-jerk only," but we're not seeing justification for that. In 10yr...(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/139312.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139312/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139312" width="1" height="1">

MBS MORNING: Fed President Reminds About Labor Market Weakness
<p>Posted To: <a href="/mortgage_rates/blog/">MBS Commentary</a></p>I am kinda bummed no one laughed at my Kathy Ireland reference in MBS OPEN . Her dress was so tight you could see her liver processing the booze (that's a rumor). I suppose I could have poked fun at Sarah Jessica Parker's "Queen of the Nile" get-up. Ugh. You guys are killing me. Is this one of those "you had to be there" jokes? I know I am setting myself up to be mocked because I watched the Oscars...but come on, there is humor in everything we do. (Like I said, I lost control of the remote. Other men: don't pretend you didn't watch. You know what I am talking about here!) Ok I am done pretending I am Perez Hilton. HAHA back to the markets. Chicago Fed President Charles Evans, a middle of the road on inflation non-FOMC voter, shared prepared remarks with...(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/139273.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139273/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139273" width="1" height="1">

Empty Econ Calendar Helps Mortgage Rates Hold Steady. Auctions Biggest Reprice Threat
<p>Posted To: <a href="/consumer_rates/">Mortgage Rate Watch</a></p>After last week’s rates roller coaster ride that forced multiple reprices for the better and the worse, yesterday was quite boring. Mortgage rates held steady as prices of mortgage backed securities never moved too far in either direction. With very little price volatility, lenders left rate sheets unchanged on the day near the best rates of 2010. There are no major economic reports scheduled for release today. With no economic data hitting the news wires this morning, today’s trading action, like yesterday, has been slow. AQ recapped some events that happened overnight which have affected the flow of money in markets today. HERE it is if you are interested. The only event on the calendar with the ability to move mortgage rates is the first of three treasury auctions for the week...(<a href="http://www.mortgagenewsdaily.com/consumer_rates/139229.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139229/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139229" width="1" height="1">

Second Mortgages in the Spotlight; Reverse Repurchase Primer; My Opinion on Mortgage Rates After the Fed; Provident Cuts Interest Only
<p>Posted To: <a href="/channels/pipelinepress/default.aspx">Pipeline Press</a></p>Often I start the commentary off saying something witty, but I couldn't think of anything clever so I thought I'd suggest you take a look at this video about, of all things, seat belts. It is making the rounds, and with good reason. The Federal Reserve has a little more than ten business days to complete their well-publicized purchase of agency mortgage-backed securities (MBS). Last week it bought $10 billion, breaking their 3-week streak of $11 billion. Only fixed-rate agency MBS securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae are/were eligible assets for the program. Everyone knows that the end of the program is imminent. I am going to go out on a limb here, which is rare for me, and suggest that the consultants, market gurus, bloggers, paid services, etc., who firmly...(<a href="http://www.mortgagenewsdaily.com/channels/pipelinepress/03092010-repo-lendamerica-rates.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139214/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139214" width="1" height="1">

MBS OPEN: Flight to Quality in Light Trading Volume
<p>Posted To: <a href="/mortgage_rates/blog/">MBS Commentary</a></p>Good Morning. Happy Standardized Test Tuesday! My nephew has Maryland School Assessment tests today, we were pre-gaming this morning. I remember those days pretty well...mostly because they were so incredibly boring and slow. Also because the test's time slots subtracted from favored subjects such as recess and P.E. What I should really be saying is HAPPY FLIGHT TO QUALITY TUESDAY!!! While you were sleeping, a senior director at Fitch Ratings by the name of Paul Rawkins told folks at a conference in London that Portugal's "pedestrian approach is a concern for us". Notice I didn't mention anything about Greece??? Yeh. Thats because more than one EU country is facing some sort of ratings downgrade. Whether or not these concerns are truly legitimate or a target of trader...(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/139231.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139231/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139231" width="1" height="1">

The Day Ahead: Stocks Dip on Sovereign Debt Fears Abroad. Treasuries Get Flight to Quality
<p>Posted To: <a href="/news/">MND NewsWire</a></p>Equity futures are firmly lower this morning following a mixed session yesterday. The Dow looks to open 31 points lower at 10,507 while futures on the S&P 500 are off 4.25 points to 1,132.75. “The mood in global markets is towards risk aversion with no apparent trigger,” said Benjamin Reitzes from BMO. MND's Adam Quinones says weakness in stocks and the flight to quality into Treasuries is a factor of overnight news from Fitch Ratings that warned against a downgrade of the credit ratings of the United Kingdom, France, and Spain. Confirming that risk isn’t on the table this morning, WTI crude oil is down $1.25 to $80.62 per barrel, and Spot Gold is trading $6.32 lower at $1,117.23. As one would expect, the US dollar is stronger against a broad array of currencies. The...(<a href="http://www.mortgagenewsdaily.com/03092010_day_ahead_charles_evans.asp">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139202/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139202" width="1" height="1">

MBS CLOSE: Strong Vs. Treasuries, But Lackluster Day All Around
<p>Posted To: <a href="/mortgage_rates/blog/">MBS Commentary</a></p>No material change since 10:30AM MBS 4.5's unchanged on the day at 101-07 10yr note 4bps higher on the day to 3.72 Stocks were up, down, up, closed flat No data tomorrow either, then 3yr note auction at 1pm Fed Evans at 930am Big Picture: something's gotta change, or long, slow, grind continues. I wanted to show you the same chart from the Afternoon notes, now updated for the past few hours for the sake of comparison, but I had to send it off to whatever company that is that prints those little activities on my kid's dinner menu where he's supposed to find the differences between two pictures. They heard about those two MBS charts and were thrilled at the possibility of just putting out one puzzle this year that would keep everyone guessing as to whether or not there was even...(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/139128.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139128/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139128" width="1" height="1">

MBA: Servicing Specialists Should Not be Required to Obtain SAFE Act Licensing
<p>Posted To: <a href="/news/">MND NewsWire</a></p>The Mortgage Bankers Association (MBA), American Bankers Association (ABA), and the American Financial Services Association (AFSA) joined with 11 state and local mortgage lending groups on Friday to send a letter to the U.S. Department of Housing and Urban Development expressing concerns about the way in which HUD is proposing to implement the 2008 SAFE Act. The SAFE Act (Secure and Fair Enforcement for Mortgage Licensing), was passed in July 2008 as part of the Housing and Economic Recovery Act. It directs states to adopt licensing and registration requirements for loan originators that meet minimum standards established by the act in lieu of HUD establishing nationwide standards. It also encourages the Conference of State Bank Supervisors (CSBS) and the American Association of Residential...(<a href="http://www.mortgagenewsdaily.com/03082010_hud_lending_associations.asp">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/139015/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=139015" width="1" height="1">

GSEs: Long Term Rates Again Below 5 Percent
<p>Posted To: <a href="/news/">MND NewsWire</a></p>Mortgage rates reversed course yet again during the week ended March 4 with the 30-year fixed-rate mortgage (FRM) once more falling below 5 percent. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year FRM averaged 4.97 percent with an average of 0.7 point compared to an average rate of 5.05 percent with 0.7 point the previous week. The 15-year FRM averaged 4.33 percent, down from 4.40 percent the week before. Fees and points remain unchanged at 0.7 point. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) had an average rate of 4.11 percent, down from 4.16 percent during the week ended February 25. Fees and points also declined from 0.6 point to 0.5 point. The one-year Treasury-indexed ARM was the lone exception to the downward trend. The average rate for...(<a href="http://www.mortgagenewsdaily.com/03042010_freddie_mac_fannie_mae.asp">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>  <a href="http://www.mortgagenewsdaily.com/channels/138397/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=138397" width="1" height="1">

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New York Time - Real Estate
last updated: 10 March, 2010 at 14:02
Property Values: What You Get for ... $175,000
A cabin in Heber City, Utah, a Gothic revival in Seneca Falls, N.Y., and a condo in Milwaukee.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=e9242d41a055e5448251c7cad8c164f1&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=e9242d41a055e5448251c7cad8c164f1&p=1"/></a> 

On Location: Bringing a Taste of New York to Johannesburg
Adam Levy lives in a 10-story building that he converted into seven spacious floor-through apartments, including his own duplex penthouse that he finally completed last fall.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=7305b0ff9ac68c769befd82c68e89775&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=7305b0ff9ac68c769befd82c68e89775&p=1"/></a> 

International Real Estate: House Hunting in ... England
Surrey, a county to the southwest of London, suffered a real estate setback in 2008, after years of steady price increases.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=5d4b10dc8b4cdec29785c2bda288b393&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=5d4b10dc8b4cdec29785c2bda288b393&p=1"/></a> 

The Renter Roadblock
Renters were a godsend when the market went into hibernation. But now that buyers are stirring, some owners wish their tenants would just go away.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=0e3fc6d6fc4e91148304b0acdd44b81a&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=0e3fc6d6fc4e91148304b0acdd44b81a&p=1"/></a> 

Square Feet: Landlords Show Tepid Response to Hourly Electricity Rates
Only about 100 of 790 buildings that are eligible for hourly prices have opted for the Con Ed service.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=ab8986a5f2c708e8a9035f620f2e59cb&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=ab8986a5f2c708e8a9035f620f2e59cb&p=1"/></a> 

Square Feet: New Airport, Northwest Florida Beaches International, to Open
Backers said Northwest Florida Beaches International would bring new businesses and residents to the Florida Panhandle; critics said it would also bring environmental problems.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=b630143e3abea3f52839046a07e5e051&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=b630143e3abea3f52839046a07e5e051&p=1"/></a> 

The Hunt: Hunters Revel in the Sounds of Silence
A bedroom door: That’s what Meghan Galewski and James Gonzalez wanted most.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=5a71aa961fbca23ce832fdfa63dd0f5e&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=5a71aa961fbca23ce832fdfa63dd0f5e&p=1"/></a> 

Living In | Vinegar Hill, Brooklyn: Living in Vinegar Hill, Brooklyn
Vinegar Hill is nudged into a corner of the waterfront that seems, at least in part, forgotten by time.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=069ec51f02dcd9bf6c1a661729f35d7f&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=069ec51f02dcd9bf6c1a661729f35d7f&p=1"/></a> 

Habitats: Home and Album
Little more than a week after buying an apartment Arash Yomtobian’s employer, Lehman Brothers, announced plans to declare bankruptcy.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=18a0a9d03c07dc5acecb7b44fdc91e6e&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=18a0a9d03c07dc5acecb7b44fdc91e6e&p=1"/></a> 

Construction Unions to Rally for Building at Ground Zero
Building is stalled as the Port Authority and the developer, Larry A. Silverstein, debated how much government should invest in private development.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=41237d06fc3fe1aa53e22d09c077b40c&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=41237d06fc3fe1aa53e22d09c077b40c&p=1"/></a> 

Short-Sale Program Will Pay Homeowners to Sell at a Loss
The Obama administration will offer homeowners $1,500 to sell for less than the mortgage balance.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=d95bdd7aaae962c44cac346ceddf87b8&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=d95bdd7aaae962c44cac346ceddf87b8&p=1"/></a> 

Subsidized Moderate-Income Homes Defy Foreclosure Trend
A city agency and nonprofit groups build or rehabilitate moderate-income housing, then scrutinize buyers’ credit. And they avoid the national foreclosure crisis.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=7e38401cff9ac7558ac6a7931969bf0e&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=7e38401cff9ac7558ac6a7931969bf0e&p=1"/></a> 

Posting: New Housing in Midtown, for a Song
On 43rd Street off Eighth Avenue is a new seven-story building that offers low-income housing and affordable rehearsal space, which are both in short supply.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=9ce435680b52f35bf076ee9af4853614&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=9ce435680b52f35bf076ee9af4853614&p=1"/></a> 

Streetscapes | 53 East 79th Street: Where Fusty Is Fabulous
Since 1937 the New York Society Library, which is the oldest cultural institution in New York, has been housed on East 79th Street.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=6978e284bbb1e4e124169d05250d06f0&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=6978e284bbb1e4e124169d05250d06f0&p=1"/></a> 

Mortgages: Help for First-Time Buyers
The State of New York Mortgage Agency, or Sonyma, is offering 30-year affordable-housing loans at 4.75 percent.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=ae72e9cc81c21173b815c3ac720512f7&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=ae72e9cc81c21173b815c3ac720512f7&p=1"/></a> 

In the Region | New Jersey: In New Jersey, the Telephone Challenge
The phone, once a real estate agent’s primary — well, only — mode of communication with a client, is making a comeback of sorts in these lean times.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=fadd60541b89684adf642133411867e6&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=fadd60541b89684adf642133411867e6&p=1"/></a> 

In the Region | Long Island: Rolling Waves and Rolling Homes
Plots in a low-key mobile-home park of 199 trailer-condos interspersed with a few stick-built shacks in Montauk Shores are available, but the structures cannot be replaced by houses.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=aef1819f3b8d2b69ab614687b9e4632a&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=aef1819f3b8d2b69ab614687b9e4632a&p=1"/></a> 

Square Feet | The 30-Minute Interview: Mark Jaccom
As of April 21, Mr. Jaccom, 54, will become the chief executive of the tristate hub of Colliers International, a full-service commercial real estate brokerage company.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=9b4a187b30d45da3304740081223c8d4&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=9b4a187b30d45da3304740081223c8d4&p=1"/></a> 

In the Region | Westchester: A Sense That Now Is the Time
A look at the strategies of buyers venturing into the market shows Westchester as no longer being in free fall but still poised precariously.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=72ccbb5437196f7dc0b3f3c43c701226&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=72ccbb5437196f7dc0b3f3c43c701226&p=1"/></a> 

On Location: In Madrid, the Apartment That Came With a House
Felipe Rein Acebo-Gomez bought a 1,900-square-foot apartment that came with a three-story 1,300-square-foot casita.<br clear="both" style="clear: both;"/> <br clear="both" style="clear: both;"/> <a href="http://ads.pheedo.com/click.phdo?s=a2d9a4a2e4ec118b726ba3c9c122903b&p=1"><img alt="" style="border: 0;" border="0" src="http://ads.pheedo.com/img.phdo?s=a2d9a4a2e4ec118b726ba3c9c122903b&p=1"/></a> 

NewsFeed by www.AZ-Realty.com

International Real Estate
last updated: 10 March, 2010 at 14:00
Affordable Housing in Brevard NC - Sponsored Link
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Can this last? Funny money keeping real estate, stock market afloat
Words of wisdom from Andy Kessler, a former hedge fund manager writing in the Wall Street Journal: A year ago yesterday, the world almost ended. The stock market was in free fall. Contrast this with 10 years ago today, when the dot-com-laden NASDAQ

Reinsurance, Mitigation Credits Challenge Homeowners Choice 4Q Profit
A.M. Best Company Inc. Welcome to the A.M. Best Web Site. To browse our site you will need a frames capable browser. Please select one of the free download options below to get a frames capable browser. Download Internet Explorer 4.0Download Netscape's

Brookfield Real Estate boosts Q4 profit, royalties
TORONTO - Brookfield Real Estate Services Fund (TSX:BRE.UN) says its net income increased to $1.5 million in the fourth quarter, about seven times higher than it was a year earlier, as the royalties it received from brokerages rose nearly 10 per cent.

Greenwich Real Estate Co. Sells Calif. Building For $33.75M
Greenwich real estate investment company Hanover Real Estate Partners has sold a 270,000-square-foot building in California for $33.75 million. The building, located in Rosemead just east of downtown Los Angeles, was sold to Southern California Edison.

Swimming Pool Expert @poolresolution.com Says Homeowners with Swimming Pools and Spas be Warned...
Designed to prevent the tragic and hidden hazard of drain entrapments and eviscerations in pools and spas, the Virginia Graeme Baker Pool & Spa Safety Act became effective on December 19, 2008. The law is named after the granddaughter of a former

Keller Williams Realty Welcomes Top Producing Southern Arizona Real Estate Brokerage To Its Ranks
Keller Williams(R) Realty Inc. announced today the launch of Keller Williams Southern Arizona. The new operation, formerly with Realty Executives(R), includes seven offices, with more than 375 top-producing real estate agents and staff.

Hanover Real Estate Partners Announces Sale of Rosemead, CA Office Building
(BUSINESS WIRE) ----Hanover Real Estate Partners, a privately held real estate investment company focused on owning, managing and operating institutional grade commercial real estate assets in the United States, today announced the sale of a 270,000

Hanover Real Estate Partners Announces Sale of Rosemead, CA Office Building
(BUSINESS WIRE) ----Hanover Real Estate Partners, a privately held real estate investment company focused on owning, managing and operating institutional grade commercial real estate assets in the United States, today announced the sale of a 270,000

Vail Resorts Earnings Drop 33% on Real Estate
Ski resort holding company Vail Resorts (MTN) saw earnings fall 33% in the second quarter, as the company continued to take hits on its real estate holdings. Vail Resorts, which owns its namesake ski mountain along with Colorado ski areas Breckenridge

Vail Resorts Earnings Drop 33% on Real Estate
Ski resort holding company Vail Resorts (MTN) saw earnings fall 33% in the second quarter, as the company continued to take hits on its real estate holdings. Vail Resorts, which owns its namesake ski mountain along with Colorado ski areas Breckenridge

Vail Resorts Earnings Drop 33% on Real Estate
Ski resort holding company Vail Resorts (MTN) saw earnings fall 33% in the second quarter, as the company continued to take hits on its real estate holdings. Vail Resorts, which owns its namesake ski mountain along with Colorado ski areas Breckenridge

Phoenix Realty Group Appoints Edward J. Ratinoff Managing Director, National Acquisitions
Phoenix Realty Group : (PRG) announces the appointment of Edward J. Ratinoff as Managing Director, National Acquisitions. PRG manages two private equity real estate funds currently in their commitment periods totaling $470 million in capital. Ratinoff

Armed robbery at estate agents
This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your

Olympic legacy body appoints real estate chief
A senior official from the national housing and regeneration quango is to take up a new position at the company responsible for delivering the regeneration of the 2012 Olympic Games.

Phoenix Realty Group Appoints Edward J. Ratinoff Managing Director, National Acquisitions
NEW YORK & LOS ANGELES - (Business Wire) (PRG) announces the appointment of Edward J. Ratinoff as Managing Director, National Acquisitions. PRG manages two private equity real estate funds currently in their commitment periods totaling $470 million in

TRECAP Gets Backing From Hunt Companies
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Phoenix Realty Group Appoints Edward J. Ratinoff Managing Director, National Acquisitions
Phoenix Realty Group (PRG) announces the appointment of Edward J. Ratinoff as Managing Director, National Acquisitions. PRG manages two private equity real estate funds currently in their commitment periods totaling $470 million in capital. Ratinoff will

New Market Report: Venezuela Real Estate Report Q2 2010
This is our fourth review of Venezuela's real estate sector. As in previous reports, current data on the Venezuelan market remains scarce, but the overall picture is one of property development being hampered by falling loan growth in the short term, and

Keller Williams Realty adds 375 agents
Keller Williams Realty Inc. has assumed a Southern Arizona real estate group, adding 375 workers and seven offices. The Austin-based real estate franchise, which become the third largest in the United States, operates 668 offices and has close to 77,000

NewsFeed by www.AZ-Realty.com