Today marks the first new moon of the year, and the start of the Year of the Tiger 🐅! Across the globe, people are celebrating the Lunar New Year, which is seen as the time of reunion and rebirth. Are you a Tiger? If you were born in one of the following years, then yes you are! Years of the Tiger include 2022, 2010, 1998, 1986, 1974, 1962, 1950, etc.
MCT’s award-winning capital markets platform, MCTlive!, is now integrated with the Fannie Mae Connect™ Whole Loan Purchase Advice Seller API. This API connection allows MCT Mark-to-Market and Hedge Accounting Reports to be updated with Fannie Mae purchase data instantly, instead of waiting to run reports through a Loan Origination System (LOS).
FNCL 3.0s opened the day at 101-03, hit a high of 101-12+ just prior to 12 noon, and then we drifted lower in the afternoon to close at 101-04. We saw some intraday reprices for the better in the late morning and then some in the other direction later in the afternoon. We are now about 6 ticks lower vs. the Friday close of 101-04 but do not expect much from TBA hedge flows today. March issuance is about ~2.0bln behind the pace of February when you compare the first four business day of March to those of February. The big drop occurred in February and I would now expect the attrition to be a few billion/month.
Menu: • Articles & Press Releases • Whitepapers & Webinars • Events & Conferences • Did You Know? MCT Star March 2022: 20 Years of MCT, 10 Years of MCT Exchange, and 1 Year of MCT Star We are hitting a few milestones with this issue of the MCT Star! Not...
We’ve seen lighter supply thanks to the Russia/Ukraine headlines. The market has ultimately gained ground with FNCL 3.0s starting at 100-06+ and closing at 100-15. We did see some negative reprices, then the Russia/Ukraine headlines moved the bond market higher into lower yields and that brought better reprices. We currently have FNCL 3.0s at a lower closing level so don’t expect much.
In Paul’s Tip of the Week, we look at how through custom eligibility and ready for sale identification a user can streamline their best ex in MCTlive!
The mortgage origination space is one of the most cyclical industries in the U.S. economy. Interest rates, origination volume, and profit margins are constantly shifting based on a variety of factors, and it takes an efficient and intelligent operation to stay on top of it all. Most lenders react, rather than act, to week by week or month by month changes in the environment. We advocate acting decisively and in a calculated fashion. This paper will outline a simplified model illustrating mortgage market stages and how lenders can set a foundation of resilience to changing markets.
MBS gave back gains from earlier in the week, better sellers and heavy supply pushed the basis down 3-5 ticks with weak demand throughout the session. Afternoon flows skewed towards fast money selling. FNCL 2.5 closed 4 ticks wider @ 99-21+, FNCL 3 also 4 wider @ 102-00+. G2/FN down on the day but fared better than conventional counterparts, 3.5s the only green swap on the stack up 2 ticks on better buying. 15yrs higher vs 30s by 2 ticks, bank flows have been light but steady.
2022 is officially here! A lot happened last year in the mortgage space. We saw housing prices skyrocket and inflation rise. This year, expectations are for the Federal Reserve to scale back their bond purchasing in 2022 and lift interest rates higher.
In this article, we will discuss top-level margin management strategies including 6 business intelligence inputs that are helpful for making educated margin management decisions.
Are We in for a Housing Market Correction? The start of 2022 has seen market corrections in risk assets, which has led to murmurs of a potential correction in home prices as the Federal Reserve’s tapering of asset purchases leads to higher mortgage rates. Housing prices have risen dramatically (nearly 20% nationwide, per Case Shiller and FHFA) over the past year, and even if many people feel that meteoric rise makes conditions ripe for a bubble, a closer look reveals that is not necessarily the case.
In this webinar, MCT’s COO, Phil Rasori, will team up with MBA’s Chief Economist, Mike Fratantoni, to discuss how lenders can stay on top of changing market cycles in 2022.