Joan Capria

Joan Capria
Direct: 845-417-8550
Fax: 845-679-0024
joan@joancapria.com




Real Estate News
MBS RECAP: Widespread Negative Reprices as Bond Slide Continues
Mon, 04 May 2015 21:29:22 GMT

Posted To: MBS CommentaryThe last 5 days have been ugly for bond markets--not quite as the beginning of February, but this time around, we aren't bouncing off multi-year lows. This 5-day route tacks on to the end of what had already been a flat-t..[read more]

Mortgage Rates Continue Disturbingly Higher
Mon, 04 May 2015 20:18:00 GMT

Posted To: Mortgage Rate WatchMortgage rates continued higher today, extending a troubling move up to the highest levels since early March. Normally, movement in domestic interest rates is driven by economic data and inflation expectations. This time..[read more]

Earlier Intervention Policy is Best for Housing Boom/Bust Cycles
Mon, 04 May 2015 19:45:49 GMT

Posted To: MND NewsWireAfter looking at housing booms and busts in 20 countries, three economists have concluded that the likelihood of a boom ended in a housing market cycle depends on its age - that is that the longer the cycle continues, the proba..[read more]

Servicer Complaints Ebbing with Delinquencies
Mon, 04 May 2015 18:34:31 GMT

Posted To: MND NewsWireBlack Knight's Mortgage Monitor report for May took a close look at complaint trends lodged with the Consumer Financial Protection Agency (CFPB). Along with the Five Star Institute, Black Knight compared complaints with corresp..[read more]

MBS MID-DAY: Widespread Negative Reprices After Heavy Pressure from European Bonds
Mon, 04 May 2015 17:28:49 GMT

Posted To: MBS CommentaryWith UK and Japan bank holidays, cash Treasuries didn't really have an overnight session (London and Tokyo are the hubs for Treasury trading during the European and Asian sessions respectively). This also affected volume ..[read more]

Outsourcing QC; Fannie/Freddie News; Preventing Fraud; MI Earnings
Mon, 04 May 2015 13:53:42 GMT

Posted To: Pipeline PressBy now the remains of the pizza lunches for everyone working OT to deliver a successful April have been cleared away, and lenders are optimistic about May - especially those who have remained loyal to pursuing the purchase bu..[read more]

MBS Week Ahead: Important Week for Fed Comments, Econ Data, and Trend Watching
Mon, 04 May 2015 11:34:15 GMT

Posted To: MBS CommentaryAfter rising to the highest side of the long term trend last week, yields have a chance to explode higher, or re-commit to the range this week. "Exploding higher" could be problematic, or course, but it's good to remember..[read more]

MBS RECAP: Exactly What We Were Hoping NOT to See
Fri, 01 May 2015 20:35:59 GMT

Posted To: MBS CommentaryToday wasn't necessarily a worst-case-scenario for bond markets, but it was reading from the same script. It's the version of the story where the economic data is weaker than expected, but where bonds sold off anyway...[read more]

Mortgage Rates Quickly up to 6 Week Highs
Fri, 01 May 2015 19:49:00 GMT

Posted To: Mortgage Rate WatchMortgage rates are in the midst of a serious move higher . This requires some context though, because not all serious moves higher are the same. In the current case, the serious move takes the most prevalently-quoted con..[read more]

How the Mortgage Industry Already Protects Consumers
Fri, 01 May 2015 19:31:25 GMT

Posted To: Community CommentaryAs the Consumer Finance Protection Bureau enters its second year as the oversight regulator for the mortgage industry, the bulk of media focus is on how difficult it is to get a loan now, and on reporting enforcement ac..[read more]

MBS MID-DAY: A Real Mayday For Bond Markets?
Fri, 01 May 2015 16:16:33 GMT

Posted To: MBS CommentaryTreasuries and MBS are at the weakest levels in exactly a month and a half. The time frame preceding the March FOMC Announcement saw markedly weaker levels though the important support came in around 2.14--just a bit higher t..[read more]

Borrowers inching back into Cash-Out Refinancing
Fri, 01 May 2015 15:38:12 GMT

Posted To: MND NewsWireThe first quarter of 2015 was the third in a row that more than half of the refinances funded through Freddie Mac were cash out transactions. The company said that 27 percent of its refinancing loans were cash out compared to 2..[read more]

Construction Spending Softened in March
Fri, 01 May 2015 15:00:52 GMT

Posted To: MND NewsWireTotal construction spending fell in March from February levels and remained only slightly higher than one year earlier the Census Bureau said today. Overall spending was down 0.6 percent on a month-over-month basis to a seasona..[read more]

Rents Up, Vacancies Down - Music to Lender's Ears - How Much for a Place in San Francisco?
Fri, 01 May 2015 14:57:33 GMT

Posted To: Pipeline PressToday is Lei Day in Hawai'i. I guess Zillow doesn't consider Honolulu a "Metro Area". Recently Zillow Research analyzed property taxes in the "largest metro areas" across the U.S., not including places like Honolulu (populati..[read more]

MBS Day Ahead: First Day of the Rest of the Year
Fri, 01 May 2015 11:32:40 GMT

Posted To: MBS CommentaryYesterday's morning headline asked if the recent move was weak enough that we should expect a bounce or so weak that it suggested further selling. Interestingly enough, we saw both sides of that coin yesterday as bond mar..[read more]

Mortgage Rates Manage Small Victory After Yesterday's Huge Defeat
Thu, 30 Apr 2015 20:45:00 GMT

Posted To: Mortgage Rate WatchMortgage rates held their ground today, and in some cases, managed to improve after yesterday's rout. This result was far from guaranteed during the morning hours though. Stronger economic data caused bond markets to wea..[read more]

MBS RECAP: Widespread Positive Reprices as Bonds Battle Back to Green
Thu, 30 Apr 2015 20:43:46 GMT

Posted To: MBS CommentaryAfter defying overnight pressure from European bond markets to open in stronger territory, domestic bond markets were soon facing their own pressure . Economic data came in stronger than expected. Of particular note was the E..[read more]

Severe Economic Downturn could Trigger GSE Bailout
Thu, 30 Apr 2015 18:32:11 GMT

Posted To: MND NewsWireThe Federal Housing Finance Agency reports that the two government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac might together require government assistance of as much as $157.3 billion in the event of an extremely s..[read more]

MERS, a Blast from the Past
Thu, 30 Apr 2015 18:11:23 GMT

Posted To: MND NewsWireRemember 2010-2011 and the daily revelations about robosigning ? Behind the shortcuts taken by servicers in processing foreclosure documents (sometimes even employing forgery) was their policy of recording mortgages and notes i..[read more]

MBS MID-DAY: Europe Still Pushing Bond Weakness, but Domestic Data Isn't Helping
Thu, 30 Apr 2015 16:37:13 GMT

Posted To: MBS CommentaryDuring yesterday's bond market rout, a lousy reading on domestic data (GDP) effectively did nothing to stem the tide of overnight weakness. Today, the opposite is mostly true . Although bond markets in Europe were weaker ..[read more]

CFPB, NY, and Maryland Target Title Companies - More Regulators on the Way?
Thu, 30 Apr 2015 14:43:02 GMT

Posted To: Pipeline PressI travel around a fair amount, spending time with lenders, Realtors, and TSA personnel. A major concern among the first two groups is whether or not real estate agents - especially those that only close a couple deals a year ..[read more]

MBS Day Ahead: Weak Enough to Bounce or Weak Enough to Suggest More Selling?
Thu, 30 Apr 2015 11:32:33 GMT

Posted To: MBS CommentaryThere are two ways to approach the weakness in bond markets over the past two days, and before we discuss them, I should warn you that I don't know which way is the right one. The first approach would be that we're in..[read more]

MBS RECAP: Role Reversal: GDP And Morning Trading Trump FOMC
Wed, 29 Apr 2015 21:07:45 GMT

Posted To: MBS CommentaryHeading into today, the afternoon's FOMC Announcement had the first right of refusal when it came to moving markets. As it happened, it was the morning hours that ended up setting the tone for the entire day, and by a wid..[read more]

Mortgage Rates at 6 Week Highs, But Why?
Wed, 29 Apr 2015 21:07:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved firmly up to the highest levels since March 17th. Incidentally, there was a Fed Announcement on March 18th and another Fed Announcement today. While rates generally moved lower with good momentum aft..[read more]

MBS MID-DAY: Bond Markets Fear The Nudge
Wed, 29 Apr 2015 17:13:42 GMT

Posted To: MBS CommentaryGDP was super weak (0.2 vs 1.0 forecast) and all of the important internal components were weaker as well. So naturally, bond markets rallied on the news. One major problem with that rally though: it occurred inside a much la..[read more]

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