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The central bank said it would keep interest rates at current levels through at least to help the U.S. economy recover from the coronavirus pandemic.September 16
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The only rational strategy for holding MSRs is to be very aggressive on protecting the servicing assets via loan recapture. This is one of the chief reasons that banks have been willing to give up their share in lending and servicing as they collapse back to retail-only lending strategies.September 16
ChairmanWhalen Global Advisors LLC
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This proposed Libor replacement is an imaginary, backward-looking benchmark dreamed up by the economists at the Fed with no discernible market.September 2
ChairmanWhalen Global Advisors LLC
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Any intention that Ginnie Mae may have had to slow prepayment rates by changing the rules on RPLs seems to be thwarted by the grim economic reality facing the big banks.July 15
ChairmanWhalen Global Advisors LLC
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FHFA, HUD and Ginnie Mae should let the rate of prepayments on MBS dictate bond prices and market rates.July 1
ChairmanWhalen Global Advisors LLC
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The Federal Reserve pledged to maintain at least the current pace of asset purchases and projected interest rates will remain near zero through 2022, as Chairman Jerome Powell committed the central bank to using all its tools to help the economy recover from the coronavirus.June 10
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Mortgage rates fell to their lowest level since Freddie Mac started reporting this data in 1971, as the coronavirus shutdown continued to play havoc with the economy.April 30
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A number of proposals have been floated for debt payment holidays and other types of moratoria, but such approaches offer solutions that are worse than the problems.March 19
ChairmanWhalen Global Advisors LLC
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Mortgage prices rose and spreads tightened Monday morning as investors responded favorably to the Federal Reserve's weekend announcement that it will resume net purchases of agency MBS for the first time since October 2014.March 16
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The Federal Open Market Committee lowered the fed funds rate target to between zero and ¼% in an emergency meeting on Sunday, but while analysts say the move was needed, they feel it will take more to offset the effects of COVID-19.March 16
