The rate-indicative 10-year Treasury yield has been falling, and as of Monday morning had slipped back to the 3.9% level at which refinancing may pick up."Most originators are reporting good production," said Alec Crawford, a mortgage-backed securities researcher at RBS Greenwich Capital, in a Monday morning report. On the servicing side, Mr. Crawford said things have been "quiet," but that RBS Greenwich Capital expects that "further yield curve flattening may be greeted by unwinds of servicer flattening trades." The RBS Greenwich Capital Market researcher also recommended that market participants "keep in mind, most servicers look at sub 4% as approaching net positive convexity on their overall book."
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Pricey insurance, expensive maintenance, and struggles with financing are all weighing down the condo market, with Florida and Texas feeling it the most.
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The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
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The new integration supports the upcoming Uniform Appraisal Dataset 3.6, which becomes available in September, with mandatory use 14 months later.
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The prime jumbo RMBS transaction is collateralized by 402 residential mortgage loans.
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The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
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The Senate version makes permanent the mortgage interest and mortgage insurance premium reductions, removes the revenge tax but also cuts CFPB funding.
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