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Mortgage Daily News

New Vendor Products for Lenders; FEMA updates on Wildfires

Posted To: Pipeline Press

The undisputed hit of the conference so far in Denver? The MBA’s mPower event on Saturday. Yes, it eliminated "a Saturday off" for over 300 women, but the "MBA Promoting Opportunities for Women to Extend their Reach" has been heralded as a success. No "Think about smiling when you talk" advice was given. Led by Marcia Davies and her crew, it was filled with information on goals, leadership, information, networking, and support for women. Most excellent. Disaster Updates FEMA announced that federal disaster aid with individual assistance has been made available to Sonoma and Napa county in California to supplement individual, state, and local recovery efforts in the areas affected by California Wildfires during the period of October 08, 2017 and continuing. M&T Bank published the following...(read more)

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MBS Day Ahead: Bonds Try to Defend Ceilings Amid Limited Data

Posted To: MBS Commentary

While there are certainly some weeks with far fewer economic reports on tap, the week ahead is still on the light side when it comes to the data that has been moving markets of late. A few of the reports (like GDP and Durable Goods, for instance) have historical street cred, but they're not in the same league as the key inflation metrics at the moment. It was the Consumer Price Index (CPI) that served as the last major market mover in terms of economic data (Friday before last). That instance of CPI is still important to the current theme, because it gave bonds an opportunity to more forcefully shift into a more positive stance, yet the entirety of the following week (last week) was spent moving into weaker territory. That first 4 days of last week could have been seen as a sign that bonds...(read more)

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MBS RECAP: "Totally Expected" Budget Bill Shocks Markets

Posted To: MBS Commentary

There's a good video in the news stream with Austan Goolsbee going on a bit of rant about how the Senate's procedural vote on a budget resolution late last night was totally expected. Someone should have told financial markets ahead of time. Traders speak with dollars and their words were clear in response to the budget bill. Either it really was a surprise, or they were simply holding out for confirmation that the Senate could actually get the 51 votes needed. Indeed, Rand Paul's dissension made it a close call. Confused yet? The bottom line is that this procedural budget resolution contained language that will allow the Senate to pass tax legislation with 51 votes instead of 60. The fact that the Senate was able to get 51 votes together for this effort suggests to some that they...(read more)

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