Brad Cahoone's (mcahoone) Blog

Jun. 3, 2011: E-signatures for FHA? Maybe. Employment data push rates back down; One week to go for QRM comments - 'nuff saidRob Chrisman Here we are on June 3rd, which means we have 7 days left to comment on the Qualified Residential Mortgage (QRM) provisions. If you thought that the industry ha...

May non-farm jobs were up just 54K, non-farm private jobs +83K; the unemployment rate increased to 9.1% frm 9.0% in April. April and March non-farm jobs were revised down by an additional 39K. Manufacturing down 5K, government jobs -29K mostly at the state level. The U-6 jobless rate 15.8%; those...

by: Sigma Research Not necessarily surprising that interest rate markets are seeing a little push back this morning after the strong rallies yesterday in treasuries and mortgages. That rates are slightly higher this morning have little to do with the larger picture, the US economy is slipping bac...

Post-Closing's Impact on Hedging Costs; Bank Liquidity and Required Reserves; ADP's Accuracy; NMLS Training by Rob Chrisman Given yesterday's economic numbers, suddenly the market thinks the US is heading into another recession. Well, it's not exactly a recession - yet. But many will argue that t...

Jun. 1, 2011: Mortgage jobs in the west; Ginnie issuance continues strong; investor underwriting & program changes; gotta like these ratesRob Chrisman The north Atlantic hurricane season begins today and lasts through Nov. 30. Per the U.S. Census Bureau nearly 37 million people in the US live in ...

A huge eye opener early this morning. At 8:15 ADP May private jobs report hit hard; the consensus estimate was for an increase of 175K jobs, the reality hit like a brick----job growth according to ADP was up just 38K. The extremely weak report has the boys and girls in the back rooms busily revis...

HUD Addresses Upcoming Reduction in Loan Limits; Foreclosure Moratoriums Back; Repurchase Requests Down by Rob Chrisman Anyone lending in "higher loan amount areas" should read the latest from HUD on the probable/possible changes that will take place on October 1. "Barring Congressional action, F...

Not a good start this morning in the bond and mortgage markets. This is employment week when most attention is directed to working the estimates all week; current thoughts are for jobs to increase 185K with non-farm private jobs +220K and unemployment unchanged at 9.0%. The forecasts likely to be...

May 27, 2011: More on hedge cost; jumbo buyers; single-point contact for servicers; mortgage fraud & lawsuits from top to bottom continues to dominate the pressRob Chrisman I saw a poor old lady fall over today on the ice!! At least I presume she was poor - she only had $1.20 in her purse.That is...

Yesterday's strong rally in the bond and mortgage markets may have been a little too much too rapidly. This morning treasuries and mortgages are lower in price; at 9:00 the 10 yr note -8/32 at 3.09% +3 bp and mortgage prices -5/32 (.15 bp). The 10 yr note playing with its 200 day moving average a...