Mortgages MAX

Posted To: Pipeline Press
It is the last day of April already, and the Kentucky Derby is tomorrow? Time flies! Remember at the beginning of the year when the RESPA and GFE changes went into effect, but HUD told everyone that they would have a four month leniency period? That comes to an end today . Of course, few, if any, investors let that trickle down to their originator clients. After all, in the event some class action lawsuit arose, investors weren’t overly confident that HUD would send in a team of attorneys to help them. Yes, the official stance is that the staff of the Mortgagee Review Board (MRB) exercised restraint in enforcing new regulatory requirements under the Real Estate Settlement Procedures Act (RESPA) in considering an action against FHA-approved lenders who have demonstrated that they are making…(read more)
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Original post by Rob Chrisman

Posted To: MBS Commentary
Good Morning. HAPPY FRIDAY My parents can cross an item off their "things to do before I die" list. They just returned from a two week coast to coast and back trip across the United States…on their motorcycle! All the "riders" out there know how big of a deal this is…Congrats Mom and Dad. What an accomplishment! Today we got the "ADVANCE" read on Q4 GDP. I say "ADVANCE" because this report will be revised two more times. The "second" estimate for the first quarter, based on more complete data, will be released on May 27, 2010. The market was expecting Q1 GDP to come in around +3.4%. The actual print: +3.2%. Just slightly worse than anticipated but well within the range of estimates. From the release: The increase in real GDP in the first…(read more)
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Original post by Adam Quinones