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Entries for February, 2010

The Day Ahead: GDP, Consumer Sentiment, Existing Home Sales, Fed Speak

Since Monday the benchmark S&P 500 has tumbled 0.56% but with fresh data on housing, growth, manufacturing, and consumer sentiment all before Noon, the trend could reverse course quickly. 90 minutes before the open, Dow futures are down 4 points to 10,312 and S&P 500 futures are trading 0.20 points higher at 1,102.50. In recent [...]

Fannie Mae to Clean Up Purchase Process. And Jumpstart the Non-Agency Market at Same Time?

If I was selling loans at the moment and I wanted to reduce secondary marketing ' leakage ', I would take special note of the changes, updates, and guidance's offered by Fannie Mae's QC department in Lender Letter 2010-03 below. THE LOAN QUALITY INITIATIVE! (aka loan repurchase world!) The only thing I might add before [...]