Rate momentum shifted noticeably on Wednesday. The underlying bond market saw heavy buying in pre-market trading–likely a result of large-scale quarter-end rebalancing among the largest money managers (i.e. adjusting balance of stocks vs bonds in investment portfolios). Excess demand for bonds = lower rates, all else equal. It also hasn’t hurt that oil prices continue […]
Mortgage Rates Quickly Approaching 1-Month Lows Read More »
The Department of Housing and Urban Development has announced 14 changes to the Federal Housing Administration program, claiming eliminating these “red tape” requirements would reduce costs. Processing Content “Every unnecessary regulation comes with a cost, and too often homebuyers pay the price,” HUD Secretary Scott Turner said in a press release. “If a policy does
HUD trims FHA red tape; groups want MIP cut next Read More »
Consumer loans that finance home improvement projects—including windows, will secure $399.3 million in asset-backed securities (ABS) that Foundation Finance acquired from dealers who originated the contracts. Processing Content Notes will be sold through five classes of A, B, C, D and E notes, and they all have a legal final maturity date of Feb. 17,
Home improvement project loans underpin Foundation Finance’s $399.3 million Read More »