Fannie, Freddie CEOs get a well-deserved huge boost in pay

5 tips for new renters this summer

Can you afford it?

S&P Case-Shiller: Home price gains slowed in April

Nationally home prices gained 4.2%

Items Tagged with 'trader'


SEC tells two Wall Street bond traders this isn't Monopoly

Accused of Free Parking
Brena Swanson
Two Wall Street traders are charged with involvement in a “parking” scheme that arranged for one to purchase several securities with the understanding that the other would repurchase them at a profit in order to skirt around company rules.
Read More

Big banks debate blocking traders from chat rooms

HousingWire Staff
Amid regulatory scrutiny, top banks are debating a plan that would block traders from computer chat rooms to ward off controversy in the wake of interest-rate rigging and trading scandals.
Read More

Traders tangled in Fed uncertainty

Mixed signals keep traders guessing
HousingWire Staff
Traders are weighing in on an assortment of concerns and the threat of the Federal Reserve pulling back bond purchases, making it difficult for traders to sift through what evidence to act on.
Read More

Mortgage investors call robo-signing settlement a '401(k) tax'

Jon Prior
A panel of mortgage bond investors complained to a House subcommittee Thursday about having to bear some of the burden in a $25 billion settlement with...
Read More

The more the Fed changes, the more it stays the same

Jacob Gaffney
The Federal Open Market Committee is going forward with its highly anticipated quantitative easing, version 2. The program announcement should not be a shock, except that the secondary market participants were banking on a Treasury focus. It's still not quite certain that's what they got. "Fear that the Fed may whisper the word 'mortgage' initiated the emergency MBS buy and hold program," joked an MBS trader in a mass e-mail.
Read More

Common misconception: Wall Street execs make all the cash

Christine Ricciardi
CNN Money released a list of the top 20 highest paying jobs -- and to the surprise of many here in the newsroom -- not one position on Wall Street was listed. Indeed, financial firms employees are persona non grata. Yes, not one hedge fund manager, not one stock trader, not one bank executive, not one mortgage broker made the top 20. In short, no one who would read this website is on this list. What gives? We're working hard here!
Read More

In defense of FHLB advances

Jacob Gaffney
When I spoke to a trader at one of the two big banks that operate a covered bond platform in the U.S., he told me that his boss would always show a preference to Federal Home Loan Bank advances as long as there is no established covered bond platform in the U.S. Since then, I wrote an article that referred to advances from FHLB as being less efficient than covered bond financing. Well, the banks disagree. And in the spirit of balance and open dialogue in the financial markets, those concerns are republished below:
Read More

In the Search for Non-Agency MBS Trading, Can I Get a PPIP?

Jacob Gaffney and Paul Jackson
HousingWire publisher Paul Jackson just sent me an email in reference to an article by Jody Shenn called "Mortgage-Bond Spreads Surpass Lows Reached During Fed Buying" to which our publisher commented that, "Treasuries are too rich for buyers, so they're flooding the agency MBS space."
Read More

What do stock crashes, your 401k, and Tom Petty have in common?

Paul Jackson
This crossed my desk this morning, from a trader at JPM -- those of you in the secondary markets know well who this is from, but I thought I'd share. Make sure to sing in your best "Free Fallin'" impersonation, a la Tom Petty! There's no good bid, my 401k lost a comma. Help me Jesus, Greece and Portugal too! Hit another back bid, feels like I got kicked in the pelvis But I throw parties - at the Central Park Zoo. It's been a long day, just downed my fifth Stoli
Read More

Pass Throughs Pass Treasuries

Jacob Gaffney
Analysts in the residential mortgage-backed securitization (RMBS) arena report that 30-year pass throughs (coupons) outperformed Treasuries last week. While this is not an indication of a rally, the higher profitability of RMBS pass throughs may begin to entice more investors into the mortgage investment space. A pass through, a hallmark of securitization structuring, represents how much an investor gets paid after all fees and services are taken.
Read More