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MBS RECAP: Bonds Ease Into Weekend in Solid Shape
Posted on Friday July 19, 2019

Posted To: MBS Commentary

If yesterday was marked by rather aggressive comments by Fed's Williams (aggressive enough to convince a few market participants that the Fed might cut by 50bps at the end of the month), today was marked by the retraction of those comments. Well, at the very least, that was the only relevant development of the day, and it happened in two phases. The first phase was a simple interview that unwound less than half of yesterday's gains. That actually happened late last night and was well priced-in by the time markets opened. The 2nd phase happened in the middle of the trading day when the WSJ released an article saying the Fed was likely to only be cutting by 25bps at the end of the month. That was good or another 25% unwinding of yesterday's gains, but the weaker momentum fizzled quickly...(read more)

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Mortgage Rates Fight to Remain at Week's Best Levels
Posted on Friday July 19, 2019

Posted To: Mortgage Rate Watch

Mortgage rates Moved just slightly lower today, despite some push back from underlying bond markets. Typically, weakness in the bond market (like the kind we saw today) corresponds to rising rates--even if only a modest amount. The compensating factor today was the timing of yesterday's bond market gains. Simply put, there is a bit of lag between bond market movement and mortgage lenders' ability or willingness to pass those gain along in terms of improved rates. Additionally, in this more volatile environment with rates already very close to super long-term lows, lenders are generally hesitant match the bond market's movement step for step. All of the above left lenders with some insulation against today's bond market weakness. Had it been any bigger, we probably would be talking about slightly...(read more)

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Reverse Daily Mortgage

Back on Reverse Mortgage Landscape, Bank of America Objects to RMS Sale
Posted on Friday July 19, 2019

Long after leaving the reverse mortgage business, Bank of America is back on the landscape — now with an objection to Reverse Mortgage Solutions’ sale proceedings. The company, which once originated as many as 9,000 reverse mortgage loans per year, has filed an official objection in the Bankruptcy Court for the Southern District of New […]

The post Back on Reverse Mortgage Landscape, Bank of America Objects to RMS Sale appeared first on Reverse Mortgage Daily.

Liberty Home Equity Solutions Launches EquityIQ Proprietary Reverse Mortgage
Posted on Thursday July 18, 2019

The reverse mortgage proprietary market continues to heat up, with Liberty Home Equity Solutions announcing the official launch of a new proprietary offering on Thursday. Aimed at seniors with higher home values, the new product allows access to funds well above the current Home Equity Conversion Mortgage (HECM) program loan limit of $726,525. Called “EquityIQ,” […]

The post Liberty Home Equity Solutions Launches EquityIQ Proprietary Reverse Mortgage appeared first on Reverse Mortgage Daily.