Fannie Mae Approved Mortgage Insurers; Electronic Appraisals; Foreclosures and Home Supply; Lender Updates
Posted To: Pipeline Press
A small boy swallowed some coins and was taken to a hospital. His grandmother telephoned to ask how he was, a nurse said, "No change yet." We started off the week with both the stock and bond markets making a little change for investors: both improved . The folks on Wall Street, if there is such a thing anymore, reported that mortgage loan production selling was pretty heavy, suggesting that locks picked up as agents took advantage of the intra-day price improvements. The Fed was in doing the usual buying ( $11 billion net last week ), as were money managers and hedge funds, and lower coupons tended to do a little better price-wise versus higher coupons. Bonds closed near the highs of the day (lows in rates), and the 10-yr went back down to a yield of 3.66%. Gold was up $30 an ounce…(read more)