The key to implementing non-QM products

With the refi boom falling off and the margin compression happening to lenders nationwide, lenders are looking at non-QM to help fill in those gaps. Learn how to implement non-QM products here!

RealTrends 2021 Team Profitability Study

Brokerage firms have often speculated about how well teams perform from a profit and loss point of view, as well as how productive they are. In this research study, RealTrends answers these two big questions.

Proven Strategies for Accelerating eMortgage Adoption with Freddie Mac and Better

This webinar will cover how the industry is working to overcome challenges lenders experience in adopting eClosings. You’ll hear from industry leaders at Snapdocs, Freddie Mac and Better Mortgage. Register now!

Logan Mohtashami on existing home sales, mortgage rates

Today’s HousingWire Daily begins the Rundown miniseries where HousingWire’s Editor-in-Chief Sarah Wheeler and Lead Analyst Logan Mohtashami will talking about housing and economics every Monday.


HW 30 dips in wake of housing reports

Trulia Economist: The recovery is not a straight line

Housing stocks on the HW 30 index fluctuated throughout the day as the market reacted to a series of mixed housing reports.

Early in the day, Trulia suggested the U.S. housing market is 67% back to normal, while Lender Processing Services reported a 10% year-over-year drop in mortgage delinquencies. Still, the HW index as a whole dipped a very slight 0.03% as a whole.

The negative news of the day came from real estate site Zillow (Z), which noted that despite falling mortgage rates in the wake of more quantitative easing, three out of 10 Americans are still unlikely to qualify for a mortgage.

In the wake of those reports, the HW 30 edged down, while the Dow Jones, Nasdaq and the S&P 500 went the other direction, rising 0.36%, 0.70% and 0.35%, respectively.

In the mortgage real estate investment trust sector, a few stocks had a rough day.

mREIT American Capital (AGNC) dropped a substantial 4.74% for the day after announcing that in the third quarter of 2013, the company made open market purchases of approximately 13.4 million shares of American Capital common stock, or 4.6% of the company's outstanding shares as of June 30, 2013. The shares were purchased at an average price of $13.11 per share, totaling approximately $175.5 million, the company said.

Annaly Capital Management (NLY), another mREIT on the index, also saw a much smaller decline on Thursday, falling 0.41% for the day.

The final two mREIT-stocks on the index, Redwood Trust (RWT) and Two Harbors Investment (TWO), saw improvement on Thursday. Redwood Trust ended the day up 0.50%, while Two Harbors increased 0.93%.

The big banks were a mixed bag on the index Thursday. Bank of America (BAC) took a 0.42% dip, while JPMorgan Chase (JPM) rose 0.37% by market close. Wells Fargo (WFC), on the other hand, fell 0.48% on Thursday.

Finally, after a successful week, homebuilders began to see some fluctuation on the index. D.R. Horton (DHI) fell 0.84%, while Lennar (LEN) kept its momentum, improving 0.27% for the day. Homebuilder Toll Brothers (TOL) inched up slightly on Thursday, increasing 0.09% for the day.

Other housing-related stocks on the market also saw strong fluctuation, suggesting that as Trulia (TRLA) Chief Economist Jed Kolko said Thursday morning, “The recovery is not a straight line: it moves through different phases.”

Most Popular Articles

Guaranteed Rate’s Shant Banosian clears $2B in originations in 2021

Guaranteed Rate’s Shant Banosian has topped his record-setting 2020 in a big way: year-to-date, the LO has funded a whopping $2 billion in total origination volume, the lender announced on Tuesday.

Nov 23, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please