Bankers Field Services

Two economic indicators over the past week indicate that the recovery may have trouble getting off the ground.  Today, the Commerce Department reported a sharp drop in sales of new homes after a few months of tepid increases fueled by a tax break.  The previous month’s figures also got revised downward by 12,000 sales, or almost 3%:Sales of new U.S.

Mortgage rates were mixed in the latest Mortgage Applications Survey released by the Mortgage Bankers Association this morning. 30 year  mortgage rates and one year adjustable mortgage rates were down slightly in this week’s survey and 15 year mortgage rates were higher. Applications for mortgages also decreased this week even though mortgage interest rates for the [...]

Mortgage applications declined for the second week in two national surveys. For the week ending October 23, the Mortgage Bankers Association (MBA) weekly survey of gross applications decreased 12.3% on a seasonally adjusted basis compared to one-week prior. Mortgage Maxx’s weekly survey, a measure of mortgage applications adjusted to reflect the number of households that applied for [...]

The Mortgage Bankers Association (MBA) publishes the results of a weekly applications survey that covers roughly 50 percent of all residential mortgage originations and tracks the average interest rate for 30 year and 15 year fixed rate mortgages, 1 year ARMs as well as application volume for both purchase and refinance applications. The purchase application index has been highlighted as a particularly important data series as it very broadly captures the demand side of residential real estate for both new and existing home purchases.

The Mortgage Bankers Association (MBA) publishes the results of a weekly applications survey that covers roughly 50 percent of all residential mortgage originations and tracks the average interest rate for 30 year and 15 year fixed rate mortgages, 1 year ARMs as well as application volume for both purchase and refinance applications. The purchase application index has been highlighted as a particularly important data series as it very broadly captures the demand side of residential real estate for both new and existing home purchases.

On the other hand, mortgage rates are also down there at just over 5%: News Release Mortgage Applications Decrease in Latest MBA Weekly Survey WASHINGTON, D.C. (October 28, 2009) – The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 23, 2009.  The Market Composite Index, a measure of mortgage loan application volume, decreased 12.3 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index decreased 2.8 percent compared with the previous week, which included the Columbus Day holiday.

[ Skip to the end ] This is not a good sign as purchase apps are back down to very low levels: The mortgage applications index fell 12.3 percent on a seasonally adjusted basis to 562.3, the Mortgage Bankers Association said. Purchase applications dropped 5.2 percent to 254.9 and refinancing demand sank 16.2 percent to 2,352.5 last week. [ top ]

The Mortgage Bankers Association said that purchase applications for home mortgage loans dropped for the third straight week.  The drops illustrates a weakness in mortgage applications that we have not seen since May.  The drop in applications comes at a time when the first time home buyers tax credit nears expiration.  Many first time home buyers are likely to avoid buying a home if they know they cannot close by the deadline of November 30th.

Before I get to the point of this commentary, let me make sure that I have things right going in… It was in the latter part of this past July when the mortgage servicers participating in the Home Affordable Modification Program (“HAMP”) were summoned to attend a meeting in Washington D.C.  The administration, the media reported, had recently decided that it was very unhappy with the servicer performance as related to loan modifications, both in general, and specifically related to HAMP modifications, and they were calling the servicers to the table so they could be read the riot act.  There was a new sheriff in town and his name was Timothy Geithner.

U.S. home loan demand slid for the third straight week, the Mortgage Bankers Association said on Wednesday, with purchase applications the weakest since mid-May and refinancing requests at a two-month low. The downturn comes as the $8,000 first-time … View original story…

NEW YORK (CNNMoney.com) — Mortgage applications fell last week for the third week in a row, even as interest rates edged lower, an industry group said Wednesday. The Mortgage Bankers Association (MBA) said its index of mortgage application volume … View original story…

Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and U.S. economy grapple with the aftermath of the recession, the Mortgage Bankers Association’s chief economist said this week. Source: Foreclosures to Rise Even More Next Year

(WASHINGTON, DC) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 23, 2009. The Market Composite Index, a measure of mortgage loan application volume, … …

A mortgage industry trade group is throwing in the towel on its poorly-timed real-estate investment. The Mortgage Bankers Association said Tuesday it has retained commercial real-estate broker Holliday Fenoglio Fowler to sell its 10-story Washington … View original story…

By Wiikwaji’o, I received the following article and it made me think about something that should be important to EVERY freedom loving American. Any patriot that knows anything about history knows that the Banks are our enemies. I hope every bank fails since they are perpetrating the Federal Reserve Fraud system on America. So what can we do to fight back? We should be suing these banks on EVERY mortgage. You should get your house as a pat of your end of TARP and the BAILOUT.

Mortgage Bankers Hang a ‘For Sale’ Sign Wall Street Journal (blog) The Mortgage Bankers Association is throwing in the towel on its poorly timed real-estate investment. The trade group said today it has retained commercial … Mortgage Bankers Association to Sell Brand New Headquarters Credit Union Times MBA puts new headquarters up for sale Bizjournals.com all 6 news articles »

The Mortgage Bankers Association is throwing in the towel on a poorly timed real-estate investment–its headquarters building in Washington.Read the original:Mortgage Bankers Hang a ‘For Sale’ Sign – Washington Wire – WSJ This entry was posted on Tuesday, October 27th, 2009 at 2:48 pm and is filed under Resource, mortgage. You can feed this entry. You can leave a response, or trackback from your own site.

A mortgage industry trade group is throwing in the towel on its poorly-timed real-estate investment.Read more here:Mortgage Bankers Association Selling Real Estate – Developments – WSJ This entry was posted on Tuesday, October 27th, 2009 at 2:45 pm and is filed under mortgage. You can feed this entry. You can leave a response, or trackback from your own site. What’s your say ?Name (required)Mail (will not be published) (required)Website (optional)

A trade group for the mortgage industry has proved itself a poor judge of the commercial real-estate market.

Mortgage Bankers Assn Selling Headquarters. By Bara Vaida and Peter StoneView original post here: National Journal Online — Under The Influence — Mortgage Bankers … This entry was posted on Tuesday, October 27th, 2009 at 1:29 pm and is filed under mortgage. You can feed this entry. You can leave a response, or trackback from your own site. What’s your say ?Name (required)Mail (will not be published) (required)Website (optional)

Mortgage Bankers Assn Selling Headquarters. View original post here:National Journal Online — Under The Influence — Mortgage Bankers … This entry was posted on Tuesday, October 27th, 2009 at 1:29 pm and is filed under mortgage. You can feed this entry. You can leave a response, or trackback from your own site. What’s your say ?Name (required)Mail (will not be published) (required)Website (optional)

  Is there ever a day that mattresses are not “on sale”? Securities are always for sale. I love this kind of talk: “Agency MBS reversed course this week as much of the coupon stack underperformed against duration hedges.” That is what I received from a buddy who works for a large investment bank. What the heck does that mean, and does it mean anything to some broker who has a client waiting for 4.875% to come back? Not really. On any given day, investors in fixed income securities have a huge number of options from which to choose.