Jon Hesse
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Real Estate News
MBS RECAP: Small Victory as Broader Battle Continues
Mon, 18 Nov 2019 21:51:46 GMT

Posted To: MBS CommentaryAs 2019 winds down, investors have never been so broadly certain about the overall market thesis. Unfortunately, that thesis calls for unavoidable uncertainty and the inability to clear it up very quickly. Reason being: we ne..[read more]

Lowest Mortgage Rates in 2 Weeks
Mon, 18 Nov 2019 21:27:00 GMT

Posted To: Mortgage Rate WatchMortgage rates added to last week's improvement with another modest drop today. That brings the average lender to the best levels in exactly 2 weeks--a welcome change after hitting the highest levels in more than 3 month..[read more]

Homebuilder Confidence Staying Near Long-Term Highs
Mon, 18 Nov 2019 19:03:15 GMT

Posted To: MND NewsWireHome builder confidence fell back slightly this month, declining by 1 point to 70 in the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The dip partially reversed the index's 3-point jump i..[read more]

FHA Delinquencies Plummeted in Q3
Mon, 18 Nov 2019 16:54:54 GMT

Posted To: MND NewsWireFHA loans posted a substantial decline in delinquencies during the third quarter, leading an overall improvement in loan performance. The Mortgage Bankers Association said its National Delinquency Survey found the non-current r..[read more]

MBS Week Ahead: Trade Headlines and Technicals (With a Side of Data)
Mon, 18 Nov 2019 15:38:34 GMT

Posted To: MBS CommentaryLast week provided a much-needed recovery that counteracted some of the fast-paced selling seen in the first week of November. Despite the friendly direction of the move, the pace and fervor left something to be desired --at ..[read more]

CFPB Lightens Requirements for Temporary LO License
Mon, 18 Nov 2019 15:12:40 GMT

Posted To: MND NewsWireThe Consumer Financial Protection Bureau (CFPB) has issued an Interpretive Rule for one type of loan originator licensing. The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE ACT) of 2008 established a national sys..[read more]

Licensing, Loan Data, Non-QM Products; Customer Service Survey; No Fed Move 'til April?
Mon, 18 Nov 2019 13:53:57 GMT

Posted To: Pipeline PressDo you dread “Smonday?” (That’s when Sunday stops feeling like a Sunday, and the anxiety of Monday kicks in.) Here is something to dread. All this talk about MLOs losing their jobs to automation, or real est..[read more]

MBS RECAP: Bonds Level Off Without Committing to Reentry
Sat, 16 Nov 2019 00:06:56 GMT

Posted To: MBS CommentaryYields broke up and out of their prevailing range last week and took the present week to focus on reentry. While those efforts went a long way toward defusing concern over how quickly rates were moving higher, they fell short..[read more]

Much Better Week For Rates, But Bigger Picture Risks Remain
Fri, 15 Nov 2019 23:06:00 GMT

Posted To: Mortgage Rate WatchMortgage rates finished the week in much better territory compared to last Friday. Today only added modestly to that move, but the simple act of moving in a friendly direction feels like a major victory after coming toe ..[read more]

Home Equity, Budgeting Tools; Extensive Reports on Rise of Non-Bank Lending
Fri, 15 Nov 2019 13:59:34 GMT

Posted To: Pipeline PressThis week I’ve been running football quotes in the joke section at the bottom. Thanks to Gary B. who sent Chuck Noll’s, “Pressure is something you feel when you don’t know what you’re doing.&rdqu..[read more]

MBS Day Ahead: Retail Sales in Focus; Trade Headlines Always a Risk
Fri, 15 Nov 2019 13:31:32 GMT

Posted To: MBS CommentaryIt's Friday and that means it's time to be on the lookout for unexpected trade-related headlines, especially in the afternoon. Those sorts of newswires and tweets have become almost predictable at the end of any given..[read more]

What Exactly is "Mass Timber" and Why Should We Care?
Thu, 14 Nov 2019 21:59:53 GMT

Posted To: MND NewsWireLook closely and you will see that a lack of new home construction is behind almost every problem facing housing today. Residential construction has simply not recovered from the financial crisis and the experts see it only gro..[read more]

MBS RECAP: Bonds Make Case For a Comeback
Thu, 14 Nov 2019 21:58:17 GMT

Posted To: MBS CommentaryBy the end of last week, although there was potentially a sliver of hope afforded by Friday's highs being slightly lower than Thursday's, it looked like bonds were punching out of the massive 2019 rally and embarking ..[read more]

Mortgage Rates Are Actually LOWER This Week
Thu, 14 Nov 2019 21:24:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved lower again today. Whereas it was a bit easier to be dismissive about recent improvements, they're starting to add up at this point. Granted, we're not talking about anything other than a return to t..[read more]

MBS Day Ahead: Should The Last Trend Get a Do-Over?
Thu, 14 Nov 2019 14:32:39 GMT

Posted To: MBS CommentaryBonds gave us quite a scare last week as key technical ceilings gave way. High volume and concrete fundamental justification added validity to the move. Combine that with the massive size and old age of the 2019 rally and the..[read more]

Broker, Marketing, DPA Tools; GSE Changes; Yield Curve, Employment, and Mortgage Rates
Thu, 14 Nov 2019 13:54:53 GMT

Posted To: Pipeline PressSome people save $2.95 a day by making coffee at home rather than stopping at Dunkin’ or Starbucks. It adds up! Something didn’t add up for WeWork which reported this morning that it lost $1.25 billion in the 3rd ..[read more]

Mortgage Rates Continue Much-Needed Recovery
Wed, 13 Nov 2019 22:44:00 GMT

Posted To: Mortgage Rate WatchMortgage rates have been more willing to move higher than lower recently. While that may continue to be the case in the near-term future, there have been pockets of resistance to that trend. The first 2 days of this week..[read more]

MBS Day Ahead: Bonds Fight Back, But This is Still 'Bearish Limbo'
Wed, 13 Nov 2019 15:03:29 GMT

Posted To: MBS CommentaryThe most defining moment of the big 2019 bond rally was undoubtedly the August 1st tariff announcement and the resulting massive reaction in both yields and volumes. The 2 weeks that followed represented the market's atte..[read more]

Underwriting, Broker, ECOA, Free LPMI Products; Fire AND Flood Updates
Wed, 13 Nov 2019 13:57:43 GMT

Posted To: Pipeline PressI continue to see headlines as I head to balmy Kansas today. There was, “A Court Ruling Makes Mortgages Vanish Into Thin Air.” This is a headline no lender wants to see, but apparently this court decision might ch..[read more]

Access to Conventional/Jumbo Credit Increased in October
Wed, 13 Nov 2019 13:35:24 GMT

Posted To: MND NewsWireAccess to government loans continues to decline, but conventional and jumbo loans picked up the slack in October, pushing the Mortgage Credit Availability Index (MCAI) higher. The Mortgage Bankers Association (MBA) said the Ind..[read more]

Consumers Shaky Again on Whether it's a Good Time to Buy
Wed, 13 Nov 2019 13:26:52 GMT

Posted To: MND NewsWireOnce again the "Good Time to Buy" component of Fannie Mae's Home Purchase Sentiment Index (HPSI) is on the decline. Net positive answers to that question fell by 7 percentage points in October , helping to drag the entire index..[read more]

Mortgage Applications Hit Recent Highs
Wed, 13 Nov 2019 13:07:13 GMT

Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) said application activity during the week ended November 8 was the strongest since late September , with both purchasing and refinancing indices posting gains. MBA's Market Composite Index..[read more]

MBS RECAP: Range-Bound Volatility as Bonds Respond to Corporate Issuance
Tue, 12 Nov 2019 22:01:16 GMT

Posted To: MBS CommentaryThere are all kinds of bonds out there. We follow the 10yr Treasury even though this is a mortgage-specific site for reasons outlined here . Beyond Treasuries and MBS, there is also a fairly substantial market for corporate b..[read more]

Mortgage Rates Avoid More Pain, Even if Only For Today
Tue, 12 Nov 2019 22:00:00 GMT

Posted To: Mortgage Rate WatchMortgage rates had a bad October . November hasn't exactly been great either, with last Thursday being one of the worst days of the year in terms of day-over-day jumps in rates. In addition to the abrupt move, last week'..[read more]

NAR Addresses Cybersecurity, Says Take Precautions
Tue, 12 Nov 2019 16:10:20 GMT

Posted To: MND NewsWireA securities expert told an audience at the National Association of Realtors' (NAR's) annual conference that cybercrimes against real estate agents and companies are increasing at a record-setting pace. Robert Siciliano, CEO of..[read more]

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