Sarah O'Shea Munoz, GRI, ABR, SFR
O'Shea Munoz Homes
101 N Oak Park Avenue
Oak Park, IL 60301
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Real Estate News
MBS RECAP: Bonds Move Right Back to Pre-ECB Stance
Thu, 08 Dec 2016 23:22:45 GMT

Posted To: MBS CommentaryYesterday we discussed the rally in bonds as a function of short-covering . That meant traders were in a defensive position on Tuesday night--betting on rates moving higher--and then closed those positions yesterday. Closing ..[read more]

Mortgage Rates Not Too Troubled by European Tapering
Thu, 08 Dec 2016 22:42:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were only somewhat higher today, on average, and some lenders were actually right in line with yesterday's offerings. All this despite the fact that the European Central Bank (ECB) confirmed rumors that it..[read more]

Major Milestone For Joint Fannie/Freddie MBS
Thu, 08 Dec 2016 17:32:22 GMT

Posted To: MND NewsWireFreddie Mac just announced that it has implemented Release 1, utilizing the Common Securitization Platform (CSP) . The Release was launched on November 21 and enables Freddie Mac to transfer certain securities operations for it..[read more]

Gone Missing: 1.1 Million Loans
Thu, 08 Dec 2016 15:57:07 GMT

Posted To: MND NewsWireAnalysts from the Urban Institute recently put a hard number on tight credit. The company says that lenders failed to make about 5.2 million mortgages between 2009 to 2014 because of rigid underwriting standards. An additional ..[read more]

Don't Jump to Conclusions on Housing Sentiment -Fannie Mae
Thu, 08 Dec 2016 15:48:33 GMT

Posted To: MND NewsWireA dramatic uptick in consumer perceptions about household income kept Fannie Mae's Home Purchase Sentiment (HPSI) Index from tanking in November. Even with a net increase of 11 percent in the number of respondents reporting sig..[read more]

Negative Equity Down 24% Year-Over-Year
Thu, 08 Dec 2016 15:40:18 GMT

Posted To: MND NewsWireThe number of "underwater" homeowners continued to decrease at a rapid pace in the third quarter of 2016 as home values grew. Negative equity, often referred to as "underwater" or "upside down," applies to borrowers who owe mor..[read more]

CFPB Targets Reverse Lenders; MBA Reports on Lender Profits; Legal Trends
Thu, 08 Dec 2016 14:39:26 GMT

Posted To: Pipeline Press“I find it ironic that the colors red, white, and blue stand for freedom, until they're flashing behind you.” The OCC doesn’t have flashing lights, but the feeling in one’s stomach is probably like bei..[read more]

MBS Day Ahead: Markets Look to Draghi to Clarify ECB Tapering Announcement
Thu, 08 Dec 2016 13:26:36 GMT

Posted To: MBS CommentaryThe European Central Bank (ECB) changed things up today, to some extent. Unlike the Fed, which always unveils its big policy changes in the "announcement" itself, the ECB historically tends to address interest rate changes in..[read more]

MBS RECAP: Big Short-Covering Rally Ahead of ECB
Wed, 07 Dec 2016 22:41:02 GMT

Posted To: MBS Commentary"Big" is a relative term these days, to be sure. In fact, 4.8bps in 10yr yields and 10/32nds in Fannie 3.5 MBS prices isn't too terribly big, but it was nonetheless one of the 2 best days since the election, so we'll ..[read more]

Mortgage Rates Fall Ahead of European Central Bank Announcement
Wed, 07 Dec 2016 22:03:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved moderately lower today, as financial markets positioned themselves for an important announcement from the European Central Bank (ECB) tomorrow regarding the possibility of tapering its asset purchase..[read more]

Lender Profitability Improved in Q3
Wed, 07 Dec 2016 17:24:48 GMT

Posted To: MND NewsWireProfit margins increased for mortgage lenders in the third quarter of 2015. The Mortgage Bankers Association (MBA) said independent mortgage banks and subsidiaries of chartered banks responding to its quarterly survey reported ..[read more]

Recapping Existing Home Sales; Reverse Mortgage Conference and Issuance Trends
Wed, 07 Dec 2016 14:27:03 GMT

Posted To: Pipeline PressToday is the 75th anniversary of the Japanese attack on the U.S. naval base at Pearl Harbor in Hawai’i where 2,403 Americans died and 1,178 were wounded. There are those that believe that ghosts still haunt “Pearl..[read more]

Mortgage Applications Return to Pre-Holiday Levels
Wed, 07 Dec 2016 13:57:25 GMT

Posted To: MND NewsWireMortgage application activity was essentially flat on a seasonally adjusted basis during the week ended December 2 while swinging broadly on a non-seasonally adjusted basis as business recovered from the previous week and the T..[read more]

MBS Day Ahead: Data Free Day. Another Chance to "Lead-Off" Ahead of ECB
Wed, 07 Dec 2016 13:54:44 GMT

Posted To: MBS CommentaryFrom time to time, we see various financial markets take a "lead-off." Just like in baseball, the lead-offs occur because the base-runner knows where he wants to go and is better served by taking a few steps in that direction..[read more]

MBS RECAP: Narrowest Trading Day Since The Election
Tue, 06 Dec 2016 22:37:21 GMT

Posted To: MBS CommentaryToday's bond market trading range was the narrowest since the US presidential election, by far. 10yr yields held inside a paltry 2.9bp range (2.374 to 2.403%)-- nearly twice as calm as the next calmest day (Nov 22nd, whic..[read more]

Mortgage Rates Hold Eerily Steady
Tue, 06 Dec 2016 21:44:00 GMT

Posted To: Mortgage Rate WatchMortgage rates barely budged today, with most lenders offering the exact same quotes as yesterday. While we have seen a few days with similar day-over-day results recently, most of those involved intraday 'reprices' (i.e..[read more]

"Potent Cocktail" Fueling Home Prices -CoreLogic
Tue, 06 Dec 2016 15:30:58 GMT

Posted To: MND NewsWireHome price growth accelerated further in October according to CoreLogic. The company's Home Price Index (HPI) increased 6.7 percent from the prior October while the year-over-year gain in September was only 6.3 percent. The Cor..[read more]

Vendor News Including eClosing; Pending Home Sales Primer; FHA/VA Changes
Tue, 06 Dec 2016 14:27:53 GMT

Posted To: Pipeline PressMany years ago, it was a joke in Britain to say that, “the War Office was always preparing for the last war.” To their credit, regulators now often try to consider the future, rightly or wrongly. Last week the Com..[read more]

MBS Day Ahead: Bonds "Technically Ready" For Good News Any Day Now
Tue, 06 Dec 2016 13:47:57 GMT

Posted To: MBS CommentaryI generally don't l ike the terms "oversold" (consistent weakness) and "overbought" (consistent strength). I think they lead to false confidence in some particular outcome. For instance, there's a tendency to think so..[read more]

MBS RECAP: Mid-Day Rally Reinforces Narrowing Range
Mon, 05 Dec 2016 22:29:14 GMT

Posted To: MBS CommentaryAfter today, we're left with a clearer picture of the prevailing short-term range in bond markets. The volatile reaction to the weekend's Italian referendum, among other things, drove the intraday extremes that helped..[read more]

Mortgage Rates Begin Week Higher
Mon, 05 Dec 2016 20:34:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were slightly higher today relative to last Friday's levels, leaving them near the 2-year highs seen last Thursday. Volatility continues to run much higher than normal, with lots of intraday reprices (lend..[read more]

Refi Pool Shrinks by 4 Million
Mon, 05 Dec 2016 17:05:17 GMT

Posted To: MND NewsWireAs everyone knows, interest rates shot up immediately in the wake of the November 8 presidential elections, triggered by a sell-off in Treasury bonds. Now Black Knight says, in its current Mortgage Monitor, that the jump elimin..[read more]

Mortgage Credit Availability Continues to Improve
Mon, 05 Dec 2016 15:06:05 GMT

Posted To: MND NewsWireAccess to mortgage credit continued its recent upward trend in November. The Mortgage Bankers Association said on Monday that its Mortgage Credit Availability Index (MCAI), increased by 1.6 percent from October to 174.1. A decl..[read more]

Carson Officially Named as HUD Secretary
Mon, 05 Dec 2016 14:59:20 GMT

Posted To: MND NewsWireAnother piece of the President-elect Donald J. Trump's administration fell into place on Monday with the announcement that former Republican presidential candidate Ben Carson will be Secretary of Housing and Urban Development (..[read more]

MBA's Guidance on 2017 Volumes; Conventional Conforming Changes
Mon, 05 Dec 2016 14:50:17 GMT

Posted To: Pipeline PressIt is probably not the case that this date is celebrated by mortgage bankers from coast to coast, and forget the jokes about it being the “Mortgage Drinkers Association.” But on this date in 1933, the 21st Amendme..[read more]

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