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Tim Erwin
Cal DRE#: 01257385
Mortgage 831 - 831-426-1642
BCE and Associates - 
831-426-1662
5521 Scotts Valley Drive - Suite 110

Scotts Valley, CA 95066
Tim Direct: 831-588-7201

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Mortgage News Daily

MBS RECAP: One of Three Things is Going on With Bonds

Posted To: MBS Commentary

Bond markets sold-off today in a slightly more alarming way than we've seen so far in 2019. This was accompanied by 11th straight trading session where stocks closed higher than they opened, as well as the best S&P prices in more than a month. One of three things could be going on. At face value, this is alarming . The first option is that all of the above is cause for concern. After all, we were worried about stocks and bonds reversing course in 2019 after the strong and correlated move in late 2018. This is the worst case scenario, but not necessarily a guaranteed scenario. The 2nd option is that all of the above is a 'false alarm.' Perhaps stocks are overly optimistic about a trade deal. Perhaps markets are too smart for their own good thinking they know what will happen...(read more)

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Mortgage Rates Nominally Higher Despite Bond Market Warning

Posted To: Mortgage Rate Watch

Mortgage rates rose gently today. Most mortgage borrowers (and many mortgage professionals, for that matter) wouldn't be aware of slightly more alarming risks lurking underneath the surface. Those risks involve the broader bond market from which mortgage-related bonds take their directional cues. More simply put, if US Treasuries are improving, mortgage-backed bonds tend to improve as well. The level of correlation varies though. For nearly all of 2018, mortgages weren't improving as quickly as the most widely-used rate benchmark: 10yr Treasury yields. That began to change recently--especially when 10yr yields began moving higher 3 weeks ago. During that time, we've seen moderate moves higher in 10yr yields met with modest moves higher in mortgage rates. Today was another one of those days...(read more)

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Has RESPA's Servicer Rule Reduced Foreclosures?

Posted To: MND NewsWire

In accordance with requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Consumer Financial Protection Bureau (CFPB) recently conducted five-year assessments of two rules it promulgated under the act. We summarized their assessment of the Ability-to-Repay/Qualified Mortgage rule last week. What follows is a brief summary of the assessment of the Real Estate Settlement Procedures Act's (RESPA's) servicing rule. Many provisions of the rule relate to servicer obligations to review delinquent borrowers for foreclosure avoidance options such as loss mitigation. These include requiring servicers to make certain disclosures, take certain procedural steps, and meet prescribed timelines when borrowers are applying for and being evaluated for these options. The data showed...(read more)

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5521 Scotts Valley Drive, Suite 110 - Scotts Valley, CA 95066
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