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document.write('<p class="rss-title"><a class="rss-title" href="http://www.mortgagenewsdaily.com/channels/" target="_self">Mortgage News Daily</a><br /><span class="rss-item"></span></p>');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/965680.aspx" target="_self">MBS RECAP: Calm Week Ends on an Even Calmer Note</a><br />');
document.write('Posted To: MBS CommentaryCalm Week Ends on an Even Calmer Note It&#39;s rare to see non-holidays Fridays in January be quite as underwhelming as today turned out to be. Bonds remained locked perfectly inside prevailing trends. That&#39;s a good thing in this case as it meant moderate gains for both MBS and Treasuries. Volatility risks increase next week with a bigger slate of economic data, but we&#39;ll wait to get too excited about that until it actually proves capable of moving the needle. Today&#39;s video discusses what might be required for 10yr yields to break below 1.0%. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Existing Home Sales 6.76m vs 6.55m f&#39;cast, 6.71m prev Markit Composite PMI 58.0 vs 55.3 prev Market Movement Recap 08:35 AM Markets trading &#39; risk-off...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/consumer_rates/965675.aspx" target="_self">How Long Can The Good Times Last For Housing and Rates?</a><br />');
document.write('Posted To: Mortgage Rate WatchWhile it wasn\'t quite the biggest surprise of 2020, the strength of the housing market was one of the best. The just-released numbers for December keep the good times rolling. Leading the charge was December\'s Existing Home Sales report from the National Association of Realtors (NAR). The annual pace wasn\'t quite at the recent 15-year high seen 2 months ago, but it hasn\'t really fallen since then. No complaints. If you want to see more 15-year records broken, you\'ll have to rely on The Census Bureau\'s New Residential Construction numbers. While not a direct measure of New Home Sales, the correlation is high (we\'ll get the official sales numbers next Thursday). For now, we can bask in the warm glow of another long-term high in Housing Starts. With sales and construction numbers like this, it...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/01222021_existing_home_sales.asp" target="_self">Existing Home Sales Reach Highest Levels Since 2006</a><br />');
document.write('Posted To: MND NewsWireExisting home sales resumed an upward trajectory in December. After drifting lower by 2.5 percent in November, breaking a five-month streak of gains , the National Association of Realtors&reg; (NAR) said sales in the last month of the year rose 0.7 percent. Sales of single-family homes, townhomes, condominiums, and co-ops, were at a seasonally adjusted annual rate of 6.76 million during the month, compared to 6.69 million units in November. This represented a 22.2 percent increase over the 5.53 million unit rate a year earlier. The numbers were above the 6.40 million to 6.62 million range of forecasts by analysts polled by Econoday. Their consensus was for an annual rate of 6.55 million units. Single-family home sales were also 0.7 percent higher than the previous month at an annual rate of...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/01222021_fannie_mae_forecast.asp" target="_self">Upbeat 2021 Econ Forecast From Fannie Mae</a><br />');
document.write('Posted To: MND NewsWireOptimism is running high in Fannie Mae\'s first Economic and Housing Outlook of the year. The company\'s Economic and Strategic Research (ESR) team says expanding vaccination efforts, the potential of greater than previously expected fiscal stimulus, and the end of winter all \"point to an economy ready to take off once COVID-19-related effects begin to subside.\" The company says that economic growth probably flatlined in November and December and it revised its final GDP estimate for the year down to a negative 2.7 percent. The economy is now poised to expand, although probably not before late spring. The ESR team has raised its expectations for 2121 from 4.5 percent growth in last month\'s report to 5.3 percent and by 0.4 points for 2022 to 3.6 percent. The Federal Reserve has stated it intends...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/01222021_mortgage_performance.asp" target="_self">End-of-Year Delinquencies a Challenge for 2021</a><br />');
document.write('Posted To: MND NewsWireMortgage performance understandably deteriorated over the course of 2020. Black Knight, in its \"first look\" at December data, noted that the year ended with 1.54 million more delinquent mortgages and 1.7 million more that were seriously delinquent than at the start, calling it \"a looming reminder of the challenges facing the market in 2021 .\" The situation did continue to improve as the year ended. The national delinquency rate fell 3.9 percent from November to December and the resulting rate of 6.08 percent of all active loans was the lowest since April 2020 when the financial effects of the pandemic kicked in. It is however, nearly 79 percent higher than the rate at the end of 2019. Serious delinquencies, loans 90 or more days past due but not in foreclosure, also declined, dropping by 47...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/channels/pipelinepress/01222021-mortgage-compliance.aspx" target="_self">MLO Jobs; Broker, Recruiting, HELOC Products; Freddie and Fannie Compliance Reminders</a><br />');
document.write('Posted To: Pipeline PressThis week Joe Exotic did not receive a presidential pardon, nor did mortgage rates move much versus last week, but there are still over 16 million refinance candidates who meet broad-based eligibility criteria and could also cut their first mortgage rate by 0.75 percent or more, per Black Knight. But last night the world saw, at 21:21, the 21 st second of the 21 st minute of the 21 st hour of the 21 st day of the 21 st year of the 21 st century. How cool is that!? Instructor: &ldquo;Welcome to salsa class! Who&rsquo;s ready to learn how to dance?&rdquo; Me, hiding a bag of tortilla chips: &ldquo;Uh, there&rsquo;s been a misunderstanding.&rdquo; There&rsquo;s no misunderstanding between CNN , Axios , the White House , the Federal Times , and the ABA Banking Journal . They concur that Dave Uejio...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/965616.aspx" target="_self">MBS Day Ahead: Bonds Should Give Their Next Technical Signal Any Day Now</a><br />');
document.write('Posted To: MBS CommentaryThe nature of the pandemic has made for some very mechanical and orderly market movement. The best example of this in the bond market is the &quot;trend channel&quot; (parallel lines marking the highs and lows, yellow lines in today&#39;s chart) we&#39;ve been following in 10yr yields since the beginning of November. Smaller scale examples include several consolidation patterns (converging lines marking highs and lows, teal lines in today&#39;s chart), just like the one that&#39;s been taking shape over the past 2 weeks. This one&#39;s a bit different than the last two. On a negative note, this consolidation pattern is occurring at much higher yields, but on a plus note , it&#39;s also resting near the top of the aforementioned trend channel. The implication is that IF we can manage to get...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/consumer_rates/965547.aspx" target="_self">Mortgage Rates Almost Back to Early January Levels</a><br />');
document.write('Posted To: Mortgage Rate WatchMortgage rates made more progress today, but only after some drama in the morning. The bond market started the day in weaker territory and many mortgage lenders were offering higher rates as a result. As the day progressed, bonds improved and lenders adjusted their offerings accordingly. By the afternoon, the average lender was in better territory than yesterday. The improvement is the latest in a string of slow, steady gains for the mortgage market. While the average lender is not yet quite back to the super low territory from early January, many are as close as they\'ve been since the January 6th rate spike following the Georgia senate election. Top tier purchase rates for conventional 30yr fixed loans are in the 2.5 to 2.75 neighborhood while top tier no-cash-out refis are about an eighth...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/965549.aspx" target="_self">MBS RECAP: Bonds Push Back Against AM Weakness, But Risks Remain</a><br />');
document.write('Posted To: MBS CommentaryBonds Push Back Against AM Weakness, But Risks Remain Yields were breaking higher as the domestic session began with traders citing the European Central Bank (ECB) as the primary source of motivation. The ECB changed its stance on one of its bond buying programs in a way that leaves the door open for less accommodation. ECB President Lagarde also offered a few relatively upbeat comments on inflation/growth potential. The losses aren&#39;t too threatening at face value, but they contribute to an ongoing inability on the part of 10yr yields to get below the 1.075% floor. Until that floor is broken, it suggests strong confirmation of the rising rate environment. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Jobless Claims 900k v 910k f&#39;cast, 926k prev Housing...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/channels/pipelinepress/01212021-fha-daca-loans.aspx" target="_self">Retail, Correspondent Jobs; Performance, Non-QM, Sales Tools; STRATMOR Strategy Paper; DACA and FHA</a><br />');
document.write('Posted To: Pipeline Press&ldquo;Do y&rsquo;all remember, before the internet, that people thought the cause of stupidity was the lack of access to information? Yeah, it wasn&rsquo;t that.&rdquo; The internet has brought a lot of change to the world, and to our industry. But we don&rsquo;t need the internet to drive changes, and potential changes, in our biz. HUD has declared that it will once again back DACA mortgages. Huntington&rsquo;s Rob B. asks, &ldquo;Is a CRA Mandate coming for independent mortgage banks (IMBs)?&rdquo; (Prompting his question is the perception that President Biden will look for opportunities to boost homebuyers and builders . Of course, if there is little inventory, or land to build on, or people to build them&hellip;) CFPB Director Kathy Kraninger, who\'s term would not have ended until 2023...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/01212021_permits_and_starts.asp" target="_self">Construction Surges to Highest Levels in 15 Years</a><br />');
document.write('Posted To: MND NewsWireResidential construction finished out 2020 much more strongly than analysts had expected. The U.S. Census Bureau and Department of Housing and Urban Development reported significant increases in both residential permitting and housing starts in December , the second month in a row those numbers have grown. The numbers, however, took a hit in the Northeast. Permits for privately funded construction were issued at a seasonally adjusted annual rate of 1,709,000 units, an increase of 4.5 percent from the revised (from 1,639,000 units) rate of 1,635,000 in November. The pace of permitting in December was 17.3 percent higher than the 1,437,000 units estimated a year earlier. Econoday and Trading Economics had reported low expectations for December permits on the part of their analysts. The consensus...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/965501.aspx" target="_self">MBS Day Ahead: Defensive Shift is a Cause For Concern; Yields Struggling With an Important Floor</a><br />');
document.write('Posted To: MBS CommentaryThe GA senate election shift is old news. It did the damage it was always likely to do, but bonds had a good show of support by the end of the following week. That made good enough sense considering the pandemic is driving the market and the pandemic can&#39;t be quickly defeated. But it&#39;s worth noting that the pandemic is also driving central bank policy, and when those policies are tweaked--even subtly--bonds can and will reac t. This morning&#39;s change to the ECB&#39;s PEPP is the latest example. If you didn&#39;t click the link above, the nutshell version is this: the European Central Bank made a subtle change to its pandemic relief bond buying program that COULD mean it will buy slightly less than the maximum amounts. When these programs are initially announced, markets account for...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/consumer_rates/965434.aspx" target="_self">Mortgage Rates Making Steady Progress Over The Past Week</a><br />');
document.write('Posted To: Mortgage Rate WatchMortgage rates are off to a decent start this week with the average lender offering slightly better terms compared to last Friday. The progress actually began earlier last week. On Tuesday morning, rates were at their highest levels in exactly 2 months after jumping at a relatively quick pace in response to the Georgia senate election. The underlying bond market was making an adjustment for a likely increase in Treasury issuance in the short term. There was no way to be sure how long that adjustment would last or how much it would impact rates. That uncertainty began to clear up on Tuesday as a scheduled auction of US Treasury debt was met with strong demand. After that, the tone in the bond market shifted for the better and we\'ve seen additional examples of resilience. In general, when bonds...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/01202021_fha_rules.asp" target="_self">DACA \"Dreamers\" Given FHA Loan Eligibility</a><br />');
document.write('Posted To: MND NewsWireThe Department of Housing and Urban Development (HUD) announced on Tuesday that it has extended eligibility for FHA mortgages to individuals who are classified under the Deferred Action for Childhood Arrivals program (DACA). These individuals are perhaps better known as \"Dreamers.\" DACA status is granted to undocumented individuals who were brought into the country before their 16 th birthday and were under the age of 31 when the category was established in June 15, 2012. Residency requirements apply and individuals must be in school, have completed high school, obtained a GED certificate, or be honorably discharged from one of the military services. DACA status allows its holders to work legally in the U.S. and prevents their involuntary removal from the country for a two-year renewable term...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/01202021_nahb_builder_confidence.asp" target="_self">Rising Material Prices and Lot Shortages Hurt January Builder Confidence</a><br />');
document.write('Posted To: MND NewsWireAfter setting three successive record highs, most recently a 90 level in November , the pandemic and rising construction costs are taking a toll on the Housing Market Index (HMI). The National Association of Home Builders (NAHB) said the index, which it sponsors with Wells Fargo, fell for the second straight month. A 3-point drop in the index, which measures builder confidence in the new home market, follows a 4-point decline in December. The January level now stands at 83. \"Despite robust housing demand and low mortgage rates, buyers are facing a dearth of new homes on the market, which is exacerbating affordability problems,\" said NAHB Chairman Chuck Fowke. \"Builders are grappling with supply-side constraints related to lumber and other material costs, a lack of affordable lots and labor...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/965369.aspx" target="_self">MBS Day Ahead: Does Inauguration Day Matter For The Bond Market?</a><br />');
document.write('Posted To: MBS CommentaryDoes inauguration day matter for the bond market? Not as such, no. To be sure, the changing of the guard in D.C. is indeed a big deal for the bond market, but only because the senate flipped to democratic control as well. The inauguration is just ceremony marking a transition that&#39;s already priced into the bond market. What about another incident like the storming of the capitol last week? If that incident was any indication, bonds won&#39;t be too interested in that sort of drama unless it&#39;s far worse or actually has a lasting, disruptive effect on the government. Bottom line: it&#39;s a day to get through before the bigger market movers arrive. Traders are far more interested in seeing the details of the next iteration of stimulus and whether or not it can pass the Senate. As for...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/channels/pipelinepress/01202021-1003-and-urla.aspx" target="_self">Ops, AE Jobs; Sales, Leadership, Tech, Pricing Tools; VA, Ginnie, FHA Changes Incl. URLA Update</a><br />');
document.write('Posted To: Pipeline PressIn his Saturday Morning Cup of Joe , Jeremy Potter quipped, &ldquo;The word &lsquo;homeowners&rsquo; has the word &lsquo;meow&rsquo; in it. Good luck unseeing that from now on.&rdquo; Plenty of people are out there predicting the path of homeowners and homeownership. And there are those that say, &ldquo;All forecasts are wrong, but some are useful.&rdquo; It has certainly been interesting hearing forecasts about the direction of rates (relatively steady with a bias toward increasing gradually), new regulations for lenders (relatively steady with a bias toward increasing gradually), and even residential lending IPOs. (The current STRATMOR blog is, &ldquo;Lenders and Vendors Going Public: Pros and Cons&rdquo; .) Broker and Lender Services and Products &ldquo; DocProbe partners with your Post...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/01192021_mba_new_home_sales.asp" target="_self">New Home Purchase Applications Remained Strong to Year\'s End</a><br />');
document.write('Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) estimates that applications for the purchase of newly built homes rose only 0.2 percent from November to December, however, those applications were up 42.2 percent compared to December 2019. The information comes from MBA\'s monthly Builder Application Survey (BAS) and was not adjusted for typical seasonal patterns. Based on those mortgage applications and assumptions regarding market coverage and other factors, MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 876,000 units in December 2020. This is an increase of 5.9 percent from the November pace of 827,000 units. On an unadjusted basis, there were an estimated 59,000 new home sold during the month, unchanged from the same level in November. \"The new home...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/01192021_gse_conservatorship.asp" target="_self">Fannie/Freddie Allowed to Keep More Capital (Again)</a><br />');
document.write('Posted To: MND NewsWireLate last week the Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury (Treasury) agreed to amend the Preferred Stock Purchase Agreements (PSPAs) which govern the required distribution of dividends to Treasury from the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The amendments will bring the amount of capital the companies are permitted to retain into conformance with the 2020 Enterprise Capital Rule unveiled by FHFA in November. Under that rule, the GSEs will be allowed to retain earnings to maintain tier 1 capital in excess of 4.0 percent of their guarantee obligations to avoid restrictions on capital distributions and discretionary bonuses. The PSPAs were written when the GSEs were placed in conservatorship in 2008. In return for financial...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/01202021_applications_forbearance.asp" target="_self">Refinancing Volume Pulls Back as Rates Rise</a><br />');
document.write('Posted To: MND NewsWireThe volume of mortgage applications fell back slightly last week. The Mortgage Bankers Association (MBA) said its Market Composite Index was down 1.9 percent on a seasonally adjusted basis during the week ended January 15 compared to the prior reporting period. On an unadjusted basis the index lost 1.0 percent. The seasonally adjusted Purchase Index rose 3.0 percent from one week earlier and was 9.0 percent higher on an unadjusted basis. Purchase applications were up 15 percent year-over-year. Those gains were offset by a 5.0 percent decline in the Refinance Index although it remained 87 percent higher than during the same week in 2020. Applications for refinancing composed 72.3 percent of the total, down from 74.8 percent the previous week. \"Mortgage rates increased across the board last week...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/965301.aspx" target="_self">MBS RECAP: Uneventful Start This Week; Next Move Remains Debatable</a><br />');
document.write('Posted To: MBS CommentaryUneventful Start This Week; Next Move Remains Debatable Bonds began the day in weaker territory but rallied back to nearly unchanged levels after several comments from inbound Treasury Secretary Janet Yellen. Of particular note were Yellen&#39;s comments on the possibility of repealing certain tax cuts as well as the need to get the federal budget on a more sustainable path. Both of those bode well (or &quot;better,&quot; anyway) for Treasury issuance vs demand. The econ calendar was silent and other market moving headlines were scarce. Traders are waiting for the next major cue that settles the debate between keeping the broader negative trend intact or riding the recent positive correction back to lower-yield technical boundaries. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/01192021_cfpb_chair.asp" target="_self">Biden Nominates Two Picks for Important Financial Positions</a><br />');
document.write('Posted To: MND NewsWirePresident-elect Joe Biden has announced his picks for two important financial regulatory positions. The chairmanship of the Consumer Financial Protection Bureau (CFPB) will be filled by Rohit Chopra while Gary Gensler is expected to be named to head the U.S. Securities and Exchange Commission (SEC). Both nominations are expected to be controversial among the communities that fall under supervision of the two agencies with Chopra perhaps facing a difficult confirmation process. Chopra helped now-senator Elizabeth Warren (D-MA) design CFPB during the presidency of Barack Obama and served as its assistant director and student loan ombudsperson. He has been a member of the Federal Trade Commission since 2018. Gensler was chair of the Commodity Futures Trading Commission (CFTC) from 2009 to 2014...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/channels/pipelinepress/01192021-cfpb-leadership.aspx" target="_self">IT, AE Jobs; Jumbo, Origination, Productivity Tools; Thoughts on the CFPB Nominee; Training and Events</a><br />');
document.write('Posted To: Pipeline PressSometimes running a mortgage compliance department can seem like this short clip Indiana&rsquo;s Carol K. sent along. Yet there is value in compliance, and it is good that lenders and servicers are much more cognizant of rules and regulations than we were 12-14 years ago, along with requiring that borrowers have the ability to repay a loan. President-elect Joe Biden will nominate Rohit Chopra to be the next director of the Consumer Financial Protection Bureau . He is a strong consumer advocate, aligned with Senator Elizabeth Warren, lifelong friend of banks everywhere. (Snort.) There is value provided to consumers by the CFPB, and we&rsquo;ll see a lot of that in the next four years. Individuals and companies are hard at work finding value out there, whether it is uncovering borrowers with...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/965246.aspx" target="_self">MBS Week Ahead: After Last Week\'s Defensive Stand, What\'s Next For Bonds?</a><br />');
document.write('Posted To: MBS CommentaryLast week&#39;s bond trading served the role of establishing a ceiling for yields after their biggest spike in nearly a year (and the case could be made that the rate spike in March was an artificial and temporary byproduct of covid-related market dislocations--never destined to last). In that sense, the post-senate-election rate spike is the biggest threat the low rate environment has faced. It&#39;s hard to make a case for rates to continue higher at the same pace in the short term, but perhaps even harder to make a case for rally of equal proportions. That leaves us to wonder where the next move will take us, when it will happen, and which of the handful of potential motivations will move to the forefront. We know the pandemic and the corresponding impact on the economy will be two of the...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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document.write('<li class="rss-item"><a class="rss-item" href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/965165.aspx" target="_self">MBS RECAP: Big Victory This Week (In Response To Last Week\'s Big Loss)</a><br />');
document.write('Posted To: MBS CommentaryBig Victory This Week (In Response To Last Week&#39;s Big Loss) Relative to the spectrum of possibilities, ending the week with 10yr Treasury yields under 1.1% is a big victory. Of course that wouldn&#39;t have been the case before last week, but everything&#39;s relative in the bond market. From here, we&#39;ll be watching this week&#39;s high yields very carefully for continued support. If rates are going to surge back below 1.0%, the justification for such a thing has yet to reveal itself. Next week is light on data, and bonds are closed on Monday for Martin Luther King Jr. Day. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Retail Sales -0.7 vs 0.0 f&#39;cast, -1.4 prev Core Annual PPI 1.2 vs 1.3 f&#39;cast, 1.4 prev NY Fed Manufacturing 3.5 vs 6.0 f&#39;cast...(read more)Forward this article via email:&nbsp;&nbsp;Send a copy of this story to someone you know that may want to read it.');
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