Mortgages MAX

Posted To: MND NewsWire
The U.S. Department of Housing and Urban Development (HUD) is releasing over $49 million to public housing agencies in 49 states plus Guam and Puerto Rico to increase job training for low-income residents. The funding, announced Tuesday by HUD Secretary Shaun Donovan , is part of the department's Housing Choice Voucher Family Self Sufficiency Program (HCV/FSS), originally established in 1990. Families participating in the Housing Choice Voucher portion of the program may voluntarily participate in the Family Self Sufficiency Program. According to HUD, the grants allow public housing agencies (PHAs) to work with welfare agencies, schools, businesses, and other local partners to develop a comprehensive program designed to help participating individuals develop the skills and experience necessary…(read more)
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Original post by Jann Swanson

Posted To: MBS Commentary
The Fannie 4.5 MBS coupon has lost all positive progress that was picked up following a much weaker than forecast ADP print at 815am. The FN 4.5 is currently -0-01 at 100-08 yielding 4.477%…well off its intraday high of 100-16. The 3.625% coupon bearing 10 year TSY note is testing the strength of the morning rally. We need 3.85% to hold!!!! CHANCES FOR REPRICES FOR THE WORSE ARE ON THE RISE DONT PANIC THOUGH….Get used to this price volatility, it's something we'll have to deal with when the Fed finishes up the MBS Purchase program today — at least until non-"official" buyers (Fed) settle on a yield spread level that justifies added extension risk….(read more)
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Original post by Adam Quinones