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Mortgage and Lending - The Federal Savings Bank/Lending in 50 states - NMLS # 109616

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2010 

Mortgage backed securities closed down 6 basis points today at 101.53 after having been much higher throughout most of the day.  At one point durirng the day bonds were as high as 102.09.  Such a late day fade does not bode well for the future.  Since bonds were well above resistance for so long ...
05/17/2010
Today marked a milestone for interest rates.  With all the dizzying news about Greece and the Eurozone, interest rates have quietly been marching slowly and steadily lower.  30 year fixed rates which had spiked to the 5.5% range in early April were available today below 5 once again.  This is cre...
05/14/2010
Mortgage backed securities closed up 38 basis points at 101.59 today finally closing above two resistance levels that have been such stalwart defenders for more than a week.  There were no Treasury sales today to dampen the spirits of bond traders.  The Euro continued it fall against the dollar w...
05/14/2010
The Dow Jones Industrials sold off at the end of the day as traders chose to profit from their gains that followed last week's massive sell offs.  Since Thursday the Dow has gained back 10% from lows after the global panic that occurred then.  The dollar made gains against the Euro which forced c...
05/13/2010
Mortgage backed securities (MBS) closed up 19 basis points today at 101.22 a full 59 basis points above support offered by the 200 day moving average.  MBS bonds made a stab today to break through strong resistance at the highs of March 19th and March 9th.  For some of the day bonds broke through...
05/13/2010
Not long ago I locked a loan for a client who wanted to borrow close to $2.0 million with only 25% down.  After I locked the rate the client had some time available and searched the internet hoping to find a lower rate.  As it turns out, many lower rates appeared to be available.  Upon following ...
05/12/2010
Mortgage backed securities (MBS) closed down 12 basis points today closing at 101.03 still 31 basis points above support offered by the 200 day moving average.  MBS bonds continued to challenge tough resistance levels today.  A solid gain of 148 points by the Dowpowered by improve outlook on the ...
05/12/2010
While Fannie Mae continues to lose money every month and is poised to request additional capital to keep it afloat, the FHA continues to lend based on some of the risky parameters that caused the sub prime crisis in the first place.  The FHA requires no minimum credit score.  Thankfully lenders h...
05/11/2010
Mortgage backed securities (MBS) closed up 28 basis points remaining well above support at the 200 day moving average.  The Dow was circling near the even mark all day before closing down 38 points.  MBS bonds moved up nicely later in the afternoon.  After the close a 40 basis point monthly coupo...
05/11/2010
With all the anticipated closings between now and June 30th, one would think that underwrting would be backed up.  Durning the past week, however, I have noticed a distinct improvement in underwriting time for both brokered and banking-side loans.  I received conditions back from a processor toda...
05/07/2010
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