Announcement: Now Lending in Delaware
LoanStream is excited to announce, effective immediately, we will be accepting loan submissions in Delaware.
Market Update,Friday, May 8, 2020
The Fed purchase schedule today includes a maximum of $2.2B GNII and then later a maximum of $3.960B FN30 year securities.
Treasuries rallied heavily driven by investor concern that the U.S. central bank will cut rates into negative territory. At the close, the 2-year was +2+/32nds (.141) and the 10-year was +20+/32nds (.644).
Announcement: DPA Programs
CalFHA and Chenoa DPA programs suspended. We have temporarily suspended our DPA programs.
Market Update,Thursday, May 7, 2020
The Fed purchase schedule today includes a maximum of $1.8B FN15 year and then later a maximum of $3.960B FN30 year securities.
Treasuries were mixed with the yield on the 10-year rising following the treasury refunding announcement of a record $96bln. At the close, the 2-year was +0.625/32nds (.180) and the 10-year was -13.5/32nds (.705).
Announcement: Disaster Declaration for the State of South Carolina
On May 2, 2020 the Federal Emergency Agency (FEMA) has announced that federal disaster aid with individual has been made available in the state of South Carolina period of April 12th & April 13th.
Market Update,Wednesday, May 6, 2020
Origination flows were on the higher side again with dealers reporting a range of ~$6.0-$8.0B. The Fed purchase schedule today includes a maximum of $2.2B GNMA and then later a maximum of $3.960B FN30 year securities. Prepayment speeds will be released late this afternoon.
Announcement: Communications Related to COVID-19
LoanStream has created this At-A-Glance to easily review recent COVID-19 communications.
Market Update,Tuesday, May 5, 2020
Another day of heavy origination supply and lack of investor demand after the Fed purchases pushed them wider. Dealers were reporting a range of ~$7.5-$9.0B in origination supply for the day. The Fed purchase schedule today includes a maximum of $1.8B FN15 year and then later a maximum of $3.960B FN30 year securities.
Market Update,Monday, May 4, 2020
The Fed announced the purchase schedule for the week with a drop in average volume to ~ $6.0B a day vs the $8.0B a day from the prior week and it does not include the 30yr 2.0% coupon. In an informal survey of lenders, lock volumes remain strong with a slight increase week over week. The 30-year rate range fell between 2.875-3.75% with the majority around 3.25%.
Announcement: Improved Pricing on Government Loans!
We’ve made huge improvements on our Government Loan Programs.