Sarah O'Shea Munoz, GRI, ABR, SFR
O'Shea Munoz Homes
101 N Oak Park Avenue
Oak Park, IL 60301
Direct: (708) 359-1570

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Real Estate News
MBS RECAP: Bond Markets Rally on Greece Vote
Mon, 06 Jul 2015 23:13:30 GMT

Posted To: MBS CommentaryMBS and Treasuries improved at a healthy clip today, and almost exclusively due to the referendum in Greece over the weekend. The opening yields in overnight Treasury trading were the lowest of the day. This was followed by s..[read more]

Mortgage Rates Lowest in 2 Weeks
Mon, 06 Jul 2015 21:58:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved lower with more conviction to begin the week as global markets reacted to weekend events in Europe. Specifically, Greece voted to reject a set of reforms drafted by its Eurozone creditors. If you're ..[read more]

Over 3 Million Refinance Candidates -Black Knight
Mon, 06 Jul 2015 21:05:31 GMT

Posted To: MND NewsWireDespite years of low interest rates an estimated 6.1 million homeowners could still both qualify for and benefit from a traditional refinance according to Black Knight Financial Services. Its Mortgage Monitor based on May data,..[read more]

MBS MID-DAY: Bonds Remain in June's Range After Nice Boost From Greece
Mon, 06 Jul 2015 16:37:27 GMT

Posted To: MBS CommentaryTreasuries have safe haven appeal on a global scale. This is frequently seen when Asian markets are open for the first few hours of each trading day before European markets open. During that time, Treasuries are one of the mo..[read more]

Upcoming Events & Training; Greek Drama Pushes Rates Lower
Mon, 06 Jul 2015 14:54:57 GMT

Posted To: Pipeline PressIn legal & training news, "After years of grappling with the fallout over legacy loans and the industry's pivot towards regulatory compliance, the American Mortgage Law Group's Managing Member, James Brody, comments that the ..[read more]

MBS Week Ahead: Will Greece Save Rates?
Mon, 06 Jul 2015 11:33:32 GMT

Posted To: MBS CommentaryGreece held their referendum over the weekend on whether to accept the most recent batch of reform proposals form Eurozone creditors, despite those proposals no longer being on the table even before the referendum began. Gree..[read more]

Mortgage Rates Edge Slightly Lower After Jobs Data
Thu, 02 Jul 2015 21:22:00 GMT

Posted To: Mortgage Rate WatchMortgage rates made an anti-climactic move lower today after the big jobs report proved slightly disappointing to markets. Stocks and bond yields both fell after the Bureau of Labor Statistics said only 223k jobs were cr..[read more]

MBS RECAP: Abrupt Positive Adjustment After NFP, Then Silence
Thu, 02 Jul 2015 21:18:02 GMT

Posted To: MBS CommentaryAs far as days with big initial reactions to economic data go, today was about as boring as they come. The first part of the problem was the overnight bond market weakness. This had 10yr yields near 2.47 by the start of the d..[read more]

Homeowner Shift to Condos won't affect Prices -S&P
Thu, 02 Jul 2015 20:51:47 GMT

Posted To: MND NewsWireIn the S&P/Case-Shiller home price indices report for April David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices notes that, "Sales of new and existing homes are rising in recent repo..[read more]

CoreLogic Ties Fraud Risk to Interest Rates, Purchases
Thu, 02 Jul 2015 20:01:06 GMT

Posted To: MND NewsWireA new analysis by CoreLogic shows an increased risk of mortgage application fraud associated with purchase loans while loans made for refinancing are showing decreased risk. Thus, as rates rise and refinancing diminishes, fraud..[read more]

Investors, Cash Sales Returning to More Normal Levels
Thu, 02 Jul 2015 15:41:39 GMT

Posted To: MND NewsWireThe National Association of Realtors® reported last week that first time buyers had increased their share of existing home sales in May by two percentage points and in a market where sales were up 9.2 percent in a year had ..[read more]

MBS MID-DAY: Quietly Holding Solid Gains After Tepid Jobs Data
Thu, 02 Jul 2015 15:39:55 GMT

Posted To: MBS CommentaryBond markets came into the domestic session in markedly weaker territory, but not for any overt reason. Yields merely drifted defensively higher ahead of jobs data--a fairly understandable move considering that a strong numbe..[read more]

The Scoop on Tax Transcripts & 4506-T's - Required Prior to Closing by the Agencies?
Thu, 02 Jul 2015 14:15:33 GMT

Posted To: Pipeline PressIt seems that lenders have had a more difficult time obtaining tax information from the IRS this year. I collected the tax-related updates over the last 2-3 months so you can see how lenders reacted - as always check with the..[read more]

MBS Day Ahead: All Bets Off for NFP
Thu, 02 Jul 2015 11:33:36 GMT

Posted To: MBS CommentaryWith markets closed tomorrow, NFP (the nonfarm payrolls component of the employment situation report) arrives a day early today, and despite all the focus on Europe, it's still important! Now, there's always some chan..[read more]

MBS RECAP: Bond Markets Back to Defense Ahead of NFP
Wed, 01 Jul 2015 21:39:26 GMT

Posted To: MBS CommentaryThe last two days were nice while they lasted , but today's trading levels are right back in line with most of last week. In other words, bonds sold off today. The weakness hit markets like a ton of bricks right at 5am. D..[read more]

Mortgage Rates Rise Ahead of Big Jobs Report
Wed, 01 Jul 2015 21:39:00 GMT

Posted To: Mortgage Rate WatchMortgage rates gave up recently-enjoyed gains today. This brings them to the week's highest levels (and the 3rd highest in 2015) a day before the all-important Employment Situation Report. Also referred to as "the jobs r..[read more]

Construction Spending maintains new $1 trillion Plus Pace
Wed, 01 Jul 2015 20:08:23 GMT

Posted To: MND NewsWireConstruction spending in the public and private sectors increased slightly in May to a seasonally adjusted annual rate of $1,035.8 billion . The figure was up 0.8 percent from the April number which was, however substantially r..[read more]

Several Significant Income-Related Underwriting Changes from Fannie
Wed, 01 Jul 2015 20:07:22 GMT

Posted To: MND NewsWireHighlights from the most recent update to Fannie's Selling Guide: Conversion of Principal Residence Requirements At the height of the financial crisis Fannie Mae required lenders to make a manual application to convert a princi..[read more]

MBS MID-DAY: Bond Markets Much Weaker Overnight; Greece Exporting Red Herring
Wed, 01 Jul 2015 15:52:00 GMT

Posted To: MBS CommentaryGreece's chief export these days is red herring . More of them hit the market overnight as Tsipras allegedly sent a letter saying he agreed to almost all of the conditions from EU creditors. There was some speculation that th..[read more]

Investor Updates on Disaster Policies; LLPA Changes; Western Secondary Conference
Wed, 01 Jul 2015 15:38:43 GMT

Posted To: Pipeline PressThe Fourth of July is nearly here our very own Census Bureau has dished up some tasty numerical facts. The estimated U.S. population for July Fourth this year is 321 million, whereas in July 1776 the estimated number of peopl..[read more]

New Suit "Injects Vigor" into GSE Conservatorship Challenges
Wed, 01 Jul 2015 14:26:56 GMT

Posted To: MND NewsWireAn unsigned article in the National Law Review takes another look at the Federal Housing Finance Agency (FHFA)/Treasury Department handling of the conservatorship of Fannie Mae and Freddie Mac (the GSEs) and the law suits that ..[read more]

G-Fees Up to 58bps in 2014; Small Lenders Benefit
Wed, 01 Jul 2015 14:22:37 GMT

Posted To: MND NewsWireIn a report prepared for submission to Congress the Federal Housing Finance Agency analyzes the guarantee fees charged by Freddie Mac and Fannie Mae (the GSEs) in 2014 by product type, risk class, and the volume of a lender&rsq..[read more]

Same Old Story - Rates up, Applications down
Wed, 01 Jul 2015 13:24:29 GMT

Posted To: MND NewsWireMortgage applications declined yet again during the week ended June 26. The Mortgage Bankers Association (MBA) said its Market Composite Index, a gauge of mortgage volume, was down 4.7 percent on a seasonally adjusted basis dur..[read more]

MBS Day Ahead: New Month, Same Risks, Same Opportunities
Wed, 01 Jul 2015 11:33:23 GMT

Posted To: MBS CommentaryYesterday saw a fairly noticeable swoop lower in bond prices (higher in yields) at the 3pm CME bond pit close. While we live in an increasingly electronic age and while electronic Treasury trading continues after 3pm, there i..[read more]

MBS RECAP: Bond Markets Hear Dueling Banjos From Europe and US; Weaker in the PM
Tue, 30 Jun 2015 20:10:55 GMT

Posted To: MBS CommentaryEuropean and US headlines did their rendition of 'dueling banjos' this afternoon. On the European side, we had potentially fake news out of a country that may only exist in the movies and history books. The Prime Mini..[read more]

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