Collateral and Appraisal News - Fed Addresses Delays

Posted To: Pipeline Press

Some may have the perception that no MI company has ever paid a claim, which isn’t true. USMI, the trade group for the majority of MIs, states that MI companies have paid over $50 billion since Fannie & Freddie entered conservatorship, having paid roughly 97 percent of valid claims to date with the remainder due over time. Employees of MI companies will tell you that reminding lenders of this has been an ongoing challenge. (The head of Bank of America Corp. said that banks would be able to supply a bigger share of funding for home purchases if the standard down payment for buyers was cut to 10 percent from 20 percent. Huh?) Appraisal Issues Appraisals taking too long in your county, and thinking that it should be attributed to shortfalls in the availability of state-certified and...(read more)

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MBS Day Ahead: Bonds Teetering Between Trends

Posted To: MBS Commentary

Bond markets had been in a clearly-delineated positive trend from mid-March through mid-April followed by a clearly-delineated negative trend though mid-May. After breaking out of that uptrend--something that was only confirmed on May 17th,--bonds have trended generally sideways . In other words, we're still waiting for the next trend to take shape. All we know for sure is that the most recent uptrend in rates is over. While some of the recent movements have been alternately ominous and promising , yields have stopped short of confirming a strong move in either direction. One way to think about this visually is with the Bollinger Band study overlaid on the 10yr Treasury candlesticks below (purple-ish lines). If the candlesticks were pushing the lower band, it would be a vote in favor of...(read more)

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The No-Brainer Purge:20 Items to Get Rid of Right Now Without a Second Thought

If you're anything like me, de-cluttering is downright exhilarating. But knowing where to start can be a major mental roadblock. If you've got the urge to get some stuff out of the house, start with this list of items you can say goodbye to right now with little thought and no impunity.

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One of the Best Bottles of Wine in the World Is an $8 Rosé from Aldi — Kitchn

From Kitchn → This $8 Rosé from Aldi Is One of the Best Bottles of Wine in the World

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4 Commandments of Smart Renovating (By Someone Who Kicked Their Remodel's A**)

When you see where this minimal and modern guest suite and family remodel started, it's hard to believe where it ended up. But through a ton of hard work, a lot of DIY and an intense attention to detail, Suzanne and Peter were able to renovate their 258-square-foot garage on a tight budget. Suzanne details much of the remodel in their tour, but she has more wisdom to share. Below, in her own words, are some of the most important things to remember when you're taking on a renovation.

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Your Home is Working Against You, And Here's What to Do About It

Housekeeping is rarely fun or easy. But what if we told you that you could improve the overall efficiency of your housework, without actually spending any additional time, money, or energy? Believe it or not, with a little imagination and planning, you'll find there are tons of tiny ways you can boost the productivity of your place—ones that truly don't require any extra work. From dryer sheets in the trash bin to paper towels in the microwave, read on for ten small but effective ways to make your home work better for you.

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MBS RECAP: Unchanged Again; Modest Intraday Volatility

Posted To: MBS Commentary

If we simply consider the close-of-the-day trading levels in bond markets, today was "unchanged." The intraday activity tells only a slightly more detailed story. Treasuries were weaker in the overnight session and never showed much of a desire to overcome that plight until the 9:30am NYSE open. This is highly suggestive/supportive of " month-end tradeflows" driving much of the momentum. Today even provided another interesting way to confirm the "month-end" theory. At 9:45am, Chicago PMI came out much weaker than expected. You would have been within your rights to chalk up some bond market gains to the data. Then, about 2 hours later, the headline was corrected such that the Chicago PMI was much STRONGER than expected. If bonds were interested in the data, we would...(read more)

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