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Type: Posts; User: mattig

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  1. Replies
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    Commercial is pretty fucked right now, apart from...

    Commercial is pretty fucked right now, apart from stuff backed by agencies (since the Fed is buying CMBS). That's mainly residential-only based on my limited understanding of the safe.
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    FD speaks truth. Servicing valuations are taking...

    FD speaks truth. Servicing valuations are taking loans that would have earned the lender 3-4% and instead costing them 1-2% in many FHA/VA scenarios, assuming the lender hasn't pulled out...
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    You're doing well then. A lot of guys got hit...

    You're doing well then. A lot of guys got hit with EPOs from UWM after 6 months because they retroactively upped their window to 12 months.

    And yeah, things are bad in a new and different way...
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    Yep, and loans are definitely making it all the...

    Yep, and loans are definitely making it all the way to signing only to die before funding. Not super common right now, but will keep happening for a bit. Wells just pulled out of jumbo for...
  5. practically impossible to find good inpatient...

    practically impossible to find good inpatient stuff for any amount of money you'd want to pay. Tried a few times with pops. Not surprised they didn't work.

    I haven't read this whole thread,...
  6. Thread: GUNS!!!!!!!!

    by mattig
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    648,996

    Asset prices in recessions take months to come...

    Asset prices in recessions take months to come down. Happened last time. Will happen to an even greater degree this time... Especially once people stop feeling like they need to tactically defend...
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    A) I don't know what you're asking B) 7/1 arms...

    A) I don't know what you're asking
    B) 7/1 arms are the thing now.

    Are you asking how much a 5yr arm is adjusting after the first 5 years? Depends on the index, but if LIBOR for instance, just...
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    Here's the bigger issue: a shitload of people...

    Here's the bigger issue: a shitload of people with jobs are going to do this just because nothing prevents them from skipping 6 payments. And there's an equally big shitload of unintentional...
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    You should come hang out on my site for a few...

    You should come hang out on my site for a few days to hear some of the stories. The forbearance onslaught is definitely already a mess. The good news is that I can almost guarantee you that if your...
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    I locked 2.875 yesterday, but circumstances were...

    I locked 2.875 yesterday, but circumstances were somewhat special.

    I do think we will see rates back into the 2's. The only risk to that outlook is how obvious it is based on current fundamentals.
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    http://www.mortgagenewsdaily.com/mortgage_rates/bl...

    http://www.mortgagenewsdaily.com/mortgage_rates/blog/940056.aspx
  12. Thanks for the page! Market has been crazy...

    Thanks for the page! Market has been crazy enough--especially mortgage market--that I've been all consumed.

    Word on the street is that Saturday and maybe Sunday will be the last 2 days for...
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    New MBS origination has been running at $8bln a...

    New MBS origination has been running at $8bln a day on average.

    Hundreds of billions are traded each day. $200bln (+$20bln a month in reinvestments that are coming back after having...
  14. Thread: GUNS!!!!!!!!

    by mattig
    Replies
    8,796
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    648,996

    Gonna be go time for cheap deals at some point.

    Gonna be go time for cheap deals at some point.
  15. Props to Meadows and Bachy. True test will be if...

    Props to Meadows and Bachy. True test will be if they have the ball$ to stay closed for spring break, when the case count will be much higher and probably still accelerating.
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    Not sure how it works in Canada, but Central Bank...

    Not sure how it works in Canada, but Central Bank rate cuts only impact home equity credit lines here (even though everyone, including people that pass for experts, seems to think otherwise). Can't...
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    No urgency now. Biggest weekly rate spike in...

    No urgency now. Biggest weekly rate spike in history, Monday morning to Friday afternoon. Perfect time to get set up to lock and target a rate you want with standing lock instructions if it's hit. ...
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    Hey, the JONG who writes that shit would always...

    Hey, the JONG who writes that shit would always appreciate a link if you're going to paste it in full in a forum.

    Here's the new one
    ...
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    Sorry I misread that then. Sounds like we agree...

    Sorry I misread that then. Sounds like we agree resoundingly. One of my favorite rants, actually.
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    nothing is rigged. We've seen this before albeit...

    nothing is rigged. We've seen this before albeit under different circumstances in 2008. Mortgage rate spreads vs Treasuries were even wider (and for far worse, more deeply embedded reasons). Can't...
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    Yep, several aspects of the laws enacted to...

    Yep, several aspects of the laws enacted to protect consumers ended up fucking people over.
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    Thank you for the detailed responses. Haven't...

    Thank you for the detailed responses. Haven't been in GS much since shit got real at work. Still mulling this, heavily. Free bump for someone else to beat me to the punch.
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    Yep, that 60 vs 70 LTV LLPA hit is stupid for...

    Yep, that 60 vs 70 LTV LLPA hit is stupid for some credit scores. Golden rule though, I guess.
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    more and more banks are locking their doors so...

    more and more banks are locking their doors so they can process the folks who already got in today. Never heard of so much business being turned away due to low rates and high demand. 90-120 day...
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    I post the best rate at any given time at least...

    I post the best rate at any given time at least once a day. It's the gold standard in terms of being timely and averaging the rate a top tier borrower would see in the second most aggressive...
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    You'll see a lower mortgage rate at some point in...

    You'll see a lower mortgage rate at some point in the next 10 years most likely, but I understand not wanting to make assumptions about things that aren't guaranteed.

    In other news, I talked to...
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    Yes, they could pause the roll off, but they'd be...

    Yes, they could pause the roll off, but they'd be better served by reinvesting that into treasuries. I don't think they'd entertain messing with the mbs roll off unless spreads remain blown out,...
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    Wasn't quite sure how to work it in without my...

    Wasn't quite sure how to work it in without my audience wondering wtf I was talking about...
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    Sorry for the bum steer. I'll have to give him...

    Sorry for the bum steer. I'll have to give him some shit as he typically has the best rates among my inner circle of buds/clients.

    Pricing is pretty crazy right now in terms of volatility from...
  30. I can't unsee....

    I can't unsee....
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    Right track, but I don't see them coming back...

    Right track, but I don't see them coming back into full-fledged MBS reinvestment for reasons that took so many words to explain that I just turned them into a commentary piece here:...
  32. imma try to be there. shit is pretty f'ing busy...

    imma try to be there. shit is pretty f'ing busy right now between being the day job and running the youth lacrosse league (and coaching 3 teams). NO GAMES IN MARCH THOUGH! So it's feasible and...
  33. That's an awfully dental looking porch, bra. ...

    That's an awfully dental looking porch, bra. (Yeah, I'm jealous)
  34. Thread: Trucks.

    by mattig
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    Anyone that's driven all 3 of these vehicles...

    Anyone that's driven all 3 of these vehicles knows... made me laugh though. The Dodge and the Chevy are fine trucks. I'm sure I would have been happy with either. There's a reason the super duties...
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    Yes, 3.0 today by the close. Tomorrow should be...

    Yes, 3.0 today by the close. Tomorrow should be similar. If you need a connection, I got buds (clients) there that I'd trust for my own loan.

    Tomorrow could be 2.875, best case borrower and...
  36. Thread: Chinese Rat Flu

    by mattig
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    7th death in WA, and this little gem: ...

    7th death in WA, and this little gem:

    "Researchers at the Fred Hutchinson Cancer Research Center and the University of Washington on Sunday said they had evidence the COVID-19 virus may have been...
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    3.125% widely available today, but this is a...

    3.125% widely available today, but this is a "top-tier" rate and would assume things like 20-25% equity, 740+ credit, and no funky occupancy or property features (i.e. owner occupied, single-fam...
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    In case anyone is wondering about today's...

    In case anyone is wondering about today's "surprise" Fed rate cut and the impact on mortgage rates, please don't call your mortgage person and ask if you can get 0.50% lower. Most lenders are...
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    Some banks will do that as a construction loan,...

    Some banks will do that as a construction loan, but there can be hoops to jump through.

    In other news, this morning's rates were easily at all-time lows. 3.125% 30yr fixed for top tier...
  40. Gonna disagree with ya just a little bit, K2. ...

    Gonna disagree with ya just a little bit, K2. Expert skiers were definitely hitting unexpected ice and falling that weekend. The difference is that the expert skiers in my group were being...
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    Can someone talk to me about this ski vs the 184...

    Can someone talk to me about this ski vs the 184 mx98, (latest gen before they died, with the solid red x)?

    How about bonafide? Monster 98?

    is this basically a mid-sized version (between the...
  42. Thread: 2020 Lacrosse

    by mattig
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    I just got a drunk birthday present from myself....

    I just got a drunk birthday present from myself. https://uploads.tapatalk-cdn.com/20200227/720d91dc2e32e67105dc23ce0aae98d5.jpg
  43. Thread: Truck Tire Time

    by mattig
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    Discount Tire should be able to order any Nokian....

    Discount Tire should be able to order any Nokian. They always have for me.

    Running studded hakka LTs on the current rig with a constant 7200lbs on the rear axle.

    Might go studless next time...
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    Nothing helps more than strict adherence to...

    Nothing helps more than strict adherence to 20/20/20 rule.

    Every 20 minutes, close your eyes for 20 seconds and then focus on something 20ft away for 20 seconds. Improvise and adapt as you wish. ...
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    From one person? Lots of people consider them...

    From one person? Lots of people consider them the one ski they'd own if they could only own one ski, although it sounds like the m-free will take those reins.
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    Wholeheartedly agree. Always chuckle when my...

    Wholeheartedly agree. Always chuckle when my clients tell me something else should be happening due to money supply/velocity.

    There's a lot of old guy thinking that no longer applies.
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    Sorry for drift. I realize this isn't the topic...

    Sorry for drift. I realize this isn't the topic of the thread, but it's what I know. I'm into bonds and the secondary mortgage market. No dickwaving portfolio claims. Just leaving this for...
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    No, it's really not that simple at all. Same...

    No, it's really not that simple at all. Same issues existed even when short term rates were lower than 10s, etc (which is most commonly the case anyway).
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    S&P futures just tagged 3121 and 10s are bouncing...

    S&P futures just tagged 3121 and 10s are bouncing around new all-time lows (1.307 at lowest so far today and 1.314% currently. Previous all-time low at 1.321% after Brexit in 2016).

    My market...
  50. Thread: Truck Tire Time

    by mattig
    Replies
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    72,933

    Nope... Tundra's just get shitty mileage. If I...

    Nope... Tundra's just get shitty mileage. If I drove the way I wanted, I routinely got 12mph with BFG Ko2s. Granted, they were an inch wider than stock tires but also 20-30lbs heavier per tire. ...
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