MBS Lower and Wider. Reprices Reported. Buyers Lurking

Posted To: MBS Commentary

Rate sheet influential mortgage-backs are experiencing some localized weakness/relief. Nominally, spreads have been wider all morning but price levels were still pushing new records because Treasuries were catching a bid, but the poo hit the fan a few minutes ago... I doubt this will last. Buyers have consistently jumped on any sign of weakness...unfortunately I've already seen a few reprices for the worse...(read more)

Evolving Loan Officer Agreements: Mandatory Reserves and...

Posted To: The Garrett Watts Report

After visiting over 100 shops in the past 3 years, we haven't really seen anything “new under the sun” in terms of loan officer agreements. Sometimes I think all contractual documents used by mortgage bankers originated from the same source. But more recently we've come across a few approaches that might eventually be considered the basis for new loan officer agreement practices. I’m not necessarily promoting these ideas, but they are worth discussing. The two additions are: (1) Mandatory reserves for future losses as a result of repurchase loan issues or early pay offs and (2) Good File Delivery Standards and Criteria when submitting loans to processing. Let’s dig a little deeper into these additions... Mandatory Reserves : Most agreements have clauses that...(read more)

Rapid Refinance Program: Don't Bet On It

Posted To: Pipeline Press

The economy is so bad, I bought a toaster oven and my free gift with purchase was a bank...If the bank returns your check marked "Insufficient Funds," you call them and ask if they meant you or them...Angelina Jolie adopted a child from America...My cousin had an exorcism but couldn't afford to pay for it, and they re-possessed her..When Bill and Hillary travel together, they now have to share a room. The economy is indeed slow, generally speaking. So slow that conjecture is being openly discussed regarding yet another massive government-sponsored refinance/modification plan . I ignored them for a day or two, but figured I'd mention it anyway. Morgan Stanley put out a research piece suggesting a "change" to mortgage refinancing requirements: "The Fed and market...(read more)

This month in real estate history: 1959 REALTORS® liked...

In 1959 the Federal Housing Administration celebrated its 25th birthday. In June of that year 1,200 people from 14 trade and professional organizations, including 100 REALTORS®, gathered for the Industry Salute to FHA. The black-tie affair was held in Washington?s Sheraton Park Hotel. Find out more in "This Month in Real Estate History" from the NAR Archives.

Strategic Planning for Associations

The strategic planning process is key in helping an organization develop a vision of where it will be in the future and determining the best ways to turn that vision into reality. This Updated Field Guide includes articles, books, and other resources on all aspects of strategic planning, from beginning the process to monitoring its implementation after the plan has been worked out. Also included are the strategic plan of the NATIONAL ASSOCIATION OF REALTORS® and sample strategic plans from RARE, NAR's resource exchange for state and local REALTOR® associations.