Steve M's Blog

Mortgage and Lending - Mortgage Alliance Group - San Diego, CA - NMLS#305667
"We have reported recently that we anticipate a rise in foreclosure activity through the coming months as homeowners are unable to qualify for loan modifications, fall out of modification programs or go into delinquency due to the ongoing stress in the economy," wrote Bank of America spokesman Ri...
Update: A positive report on inflation has turned the MBS Market positive but the market still can't seem to break through multi layers of resistance.  We can very carefully float for the moment as if the resistance can be broken we will likely see lender price improvements. Here is today's Mortg...
Update: The MBS Market begin the day positive but has since pulled back to just about even, down 3bps at this writing.  We can stay in float mode for the moment with a finger on the lock trigger as we don't want to loose yesterday's pricing gains if the market deteriorates any further. Here is to...
The benchmark FNMA 4.5% bond closed up a whopping 59bps.  We have now made up just about all of the ground we lost the week before last.  Let's hope it holds, technicals show the bulls firmly in control.  Watch for profit taking tomorrow though.
Mortgage Bond Markets are experiencing a nice Monday rally with our benchmark FNMA 4.5% coupon up 26bps.  An alert to float has been issued but as always, in a volatile market environment like this make sure your clients are working with a market savy loan professional who keeps a keen eye on mar...
James Lockhart, former director of the Office of Federal Housing Enterprise Oversight, talks with Bloomberg's Peter Cook about the role of Fannie Mae and Freddie Mac in the mortgage market collapse and his testimony before the Financial Crisis Inquiry Commission today. Lockhart, vice chairman of ...
Update: Market is showing improvement, the benchmark FNMA 4.5% coupon is up 12bps.  Some lenders may re-price for the better.  Shift to Float mode. Here is today's Market Snapshot from Rate markets started slightly softer today with the stock indexes aiming for a better open at 9:3...
Let's get these buyers and sellers off the fence! Check out this GREAT little countdown timer for the tax credit!! Post it on your blogs and websites! Click Here
Update: Market has turned negative in the past 30 minutes and an alert to lock has been issued.  If the sell off continues, lender re-pricing for the worse is likely.  Auction results due in a few minutes could change everything. Here is the Daily Market Snapshot courtesy of Rate m...
Another solid rally in the MBS market today on the heels of a very strong 10 yr Treasury note auction. We are sitting firmly in float mode getting many reprices for the better (lower rates) from lenders . . If last week's rise in rates has made you back off from a purchase or refinance, time to s...

Steve McCoole

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smartphone(619) 417-2701
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