Integrity Mortgage Group

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Mortgage Rates Ready to Tackle Busy Schedule in Days Ahead - 5 hours ago
Posted To: Mortgage Rate WatchIt's gonna be a big week for mortgage rates, the bond market, and the entire economy. The economic calendar in the week ahead is busy and there are many events to be discussed. . The schedule includes key manufacturing and construction surveys, consumer confidence and home prices indexes, and concludes with Friday’s Employment Situation Report. Scattered in between we'll get four QEII open market operations, two MBS reinvestment TSY buybacks, and plenty of political debate. The Week Ahead: Economic Calendar Packed with Influential Events MBS historically gain a little more or lose a little less than their Treasury counterparts during this week, so any stability in the bond market as a whole could be a positive for mortgage rates. But by Friday, we'll be gearing up for a potentially large...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Fed Sees Lagging Labor Market Recovery. Cuts Inflation Forecast. Is More QE Coming? - 6 hours ago
Posted To: MBS CommentaryThe Thanksgiving slowdown prevented me from posting the Federal Reserve's updated economic forecast. The Fed's Summary of Economic Projections are released once a quarter. They are attached to the minutes of four of the Committee’s FOMC meetings and are intended to convey information about FOMC participants’ assessments of their statutory economic targets. Projections are provided for output growth, unemployment, and inflation for the years 2010 to 2013 and over the longer run. They are based on information available through the end of the meeting and on each participant’s assumptions about factors likely to affect economic outcomes, including his or her assessment of appropriate monetary policy. Longer-run projections represent each participant’s assessment of the rate...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Industry Professionals Share Input on State of Mortgage Market - 7 hours ago
Posted To: The Garrett Watts ReportA little over a week ago Garrett, Watts & Co held its annual client appreciation dinner in San Francisco. The event took place at the Palace Hotel. A diverse group of industry professionals were in attendance including bankers, independent mortgage originators, warehouse lenders, loan investors and various third party service providers. This year we conducted a round table discussion on various issues facing our industry. Discussion topics included: Loan officer Compensation Non-Agency LoanSecuritization Warehouse Lending Capacity Retaining Loan Servicing Internet Originations Merger and Acquisitions Here is a recap of the feedback we received... Loan Officer Compensation Several participants went to the recent MBA conference in hopes of grasping a better understanding of new originator...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Loan Pricing Barely Better. Lenders Add Margin. Buydowns Very Expensive - 9 hours ago
Posted To: MBS CommentaryBecause lenders were on autopilot after Thanksgiving, I decided to run my loan pricing comparison vs. rebate offers from last Wednesday, which was not a pleasant trading session for mortgage rates. On average, rebate is 8.5bps better than it was last Wednesday with the largest improvements seen in the note rates closest to par. Week over week comparisons shine some light on just how bad last Wednesday was for us, rebate is 32.7bps worse than it was last Monday. Lenders did not discriminate though, they whacked prices across the stack, not just the closely watched par notes. Best execution for a well-qualified, no LLPA borrower is 4.50%. These consumers could possibly be quoted 4.25% at 1+1 but buydowns aren't worth the extra closing costs. For example, the 4.25% buydown at the first lender...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

The Next Buyback Problem to Face the Industry; Mortgage Assistance Relief Services Rule; Home Loan Interest Tax Deductibility Feedback - 10 hours ago
Posted To: Pipeline PressI don't remember the exact moment that I decided to start my own investigation of the foreclosure issue. I figured that with Congress, 50 states attorneys, the OCC, the OTS, the FDIC, FHFA, and probably several dozen high-powered law firms around the nation doing their own investigations for various MBS investors, I might as well join the club. Heck, even the FTC issued a "Mortgage Assistance Relief Services Rule " two weeks ago, stating that by year-end, so-called mortgage foreclosure rescue and loan modification firms will be prohibited from collecting fees until homeowners have a written offer from their mortgage lender or loan servicer that they deem acceptable. The owners of the mortgage-backed securities in question are pushing for a resolution of the 50-state probe of foreclosure practices...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

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