MBS MID-DAY: Best Levels Since Early March Amid Low Volume

  • ScottA,
  •   Mortgages
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Posted To: MBS Commentary

MBS Live : MBS Morning Market Summary The absence of European trading and headlines makes for an extremely quiet session today in terms of volume and the pace of events that require responses from human beings. Despite the generally quiet headline ticker, this morning’s ISM data was certainly a positive influence for bond markets. Combined with a low-volume, corrective move off opening lows, it’s made for the appearance of a somewhat while swing from 102-30 to 103-10 in Fannie 3.0 MBS. Indeed, a 12 tick move is substantial, but it’s a bit misleading. If we give …read more

Thoughts on Keeping the 30-yr Mortgage; Tax Implications of Cancelled Mortgage Debt

  • ScottA,
  •   Mortgages
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Posted To: Pipeline Press

There continues to be a debate about whether or not 30-yr mortgages/liens are a good idea or not . The MBA’s president – Dave Stevens – weighed in on the argument last week. “On the one hand it could be argued that the fully pre payable 30 year fixed rate loan was not a necessity in looking back historically. There is some truth to that – to be clear – mortgage interest rates have been on a steady decline for over three decades since their peak in 1980. While clearly home-owner preference for the 30 year …read more

Fed Study Finds REO Status Strongest Indicator of Property Problems

  • ScottA,
  •   Mortgages
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Posted To: MND NewsWire

While a mortgage is a financial contract between a borrower and a lender, when a foreclosure occurs there are repercussions that impact parties external to that contract, i.e. neighbors, tenant, and whole communities can suffer. In a Public Policy Paper prepared for the Federal Reserve Bank of Boston titled When Does Delinquency Result in Neglect? Mortgage Delinquency and Property Maintenance, Lauren Lambie-Hanson looked at the timing of one foreclosure side effect or externality, reduced upkeep, using conditions reported by constituents in the City of Boston. She used four sets of data, public records data on property …read more