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The California Association of Mortgage Brokers was established in 1990 by mortgage professionals throughout the state.
Mortgage brokers are consumer advocates in the mortgage selection process, helping home buyers to pre-qualify, select a mortgage loan, and complete escrow. By linking with banks, other financial institutions, and private lenders, mortgage brokers offer consumers access to a wide range of choices as they select the right mortgage for their needs.
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 Mortgage News Daily
ALERT MBS PRICES FALLING FAST ALERT - 5 hours ago
Posted To: MBS CommentaryAHHHHHHH ALERT ALERT!!! MBS PRICES ARE TANKING!!!! HAHAHAHAAHA...sorry but I've been trying to squeeze that in for a long time now. The currently crappy rate environment seemed the perfect time to remind you how mortgages trade. Too soon? Today is Class A Notification Day in the Secondary Mortgage Market. Class A MBS coupons consist of Fannie Mae and Freddie Mac 30 year loan notes. The September FN 4.0 MBS coupon has begun the settlement process and it looks like prices just plummeted. WHY??? The MBS coupons that determine rate sheet pricing are traded in the TBA MBS market. TBA = To be Announced In the TBA MBS market, at the time a trade is made, buyers and sellers agree to a few specific terms like what coupon, the issuing agency (Fannie, Freddie, Ginnie), size of trade, and a buy/sell price...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Another Bad Day for Mortgage Rates. Lock Strategy a Factor of "Timeline to Closing" - 6 hours ago
Posted To: Mortgage Rate WatchMortgage rates had a bad day yesterday. Consumer borrowing costs started moving higher early in the session and never looked back. We had no relevant data on the calendar today and the marketplace was generally quiet as many investors and decision makers took time off for religious holiday. This left mortgage rates to take their directional guidance from related markets. Stocks drifted slowly higher after moving mostly sideways throughout the day, this did little to reverse recent weakness in the bond market, and interest rates rose for the third straight session. Consequently... MORTGAGE RATES HAD ANOTHER BAD DAY Lender rate sheets are worse again. The par 30 year conventional mortgage has risen into the 4.375% to 4.625% range for well qualified consumers. If you are seeking a 15 year term...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Responding to Lender Buyback Demands with Loss Mitigation Procedures - 7 hours ago
Posted To: The Garrett Watts ReportNot too many years ago I was consulting companies that were plagued with early purchase defaults and repurchase demands from investors. It was during the tail end of the subprime and Alt-A era that mortgage bankers were starting to see a dramatic increase in demands from investors. Between 2005 and 2007 everyone got caught originating products that shouldn’t have been offered to most borrowers. When we asked folks why they were doing it, a common response was, “ I know these products are not high quality, but if I don’t originate them, I’ll be out of business”. Many would add, “All my competitors are originating these loans, so it must be ok.” In the end, these folks and their competitors went out of business anyway. One of the issues I uncovered during...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. |
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CAMB Greater Sacramento Chapter - 705-2 East Bidwell Street #156 - Folsom, CA 95630
Hotline & Fax: (916) 848-3390
Email: info@saccamb.org
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