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	Mortgage News Daily Shortening the Short Sale Timeline: Broker Price Opinions - 1 hour ago Posted To: Voice of HousingShort sales have been hampered by cycle times that can easily last months. One of the critical steps to improving adoption of this loss mitigation tool is to standardize and shorten the time from initial offer to investor acceptance. Using BPOs (Broker Price Opinions) to benchmark and vet purchase offers is a critical step that can save weeks or more from the process. Rather than a buyer submitting an offer and not knowing whether it was accepted or rejected for one or two weeks, they could have a response in just a few days . Anyone who has used or seen the evolution of BPO services over the past six to 12 months understands the comprehensive and statistical data and methodologies that are used to derive a value opinion. This month, appraiser groups told Treasury Secretary Geithner that real...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Rumors Keep Markets from Making Another Move. Rates Maintain Weakness. Reprices Possible - 3 hours ago Posted To: MBS CommentaryThere is a fair amount of chatter in the marketplace that the Fed is planning on hiking the discount rate again. Remember the Fed bumped the discount rate on February 18, from 0.50% to 0.75%...which caused a lot of commotion in the marketplace in the day's following the announcement. If the Fed does indeed order the N.Y. desk to make this policy adjustment, it doesn't mean much fundamentally because the banking system is still super liquid/flush with excess reserves. We discussed the economics of the discount rate hike in THIS BLOG POST . Re-reading it will give you an edge when clients come calling, nervously interrogating you about how this move will affect their rate. The rumor is affecting the general sentiment of the marketplace though.... Even though the IMF is said to be standing...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Discussing the Attributes of Successful Mortgage Operation Leadership - 3 hours ago Posted To: The Garrett Watts ReportMy partners and I have visited many mortgage companies over the past year. We perform our FOCIS audit for warehouse lenders looking to identify hidden risks and potential “tapebombs” that may result in unexpected losses. We also perform FOCIS-plus studies for management and boards of mortgage companies who are looking for ways to increase revenues, control cost and better manage risk. Both studies require us to interview the senior management team and other middle management to uncover business practices and leadership styles. One of our key findings is how the leadership and behavior of the CEO influences a company’s management style and corporate culture. Whether it is good or bad leadership, the CEO’s style influences management from the senior level to the leads...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it. ALERT: Treasury Supply Announced. Benchmark Rates Rise. MBS Prices Fall Fast - 4 hours ago Posted To: MBS CommentaryTreasury has announced the terms of next week's government fundraiser. As expected, supply sizes were all unchanged from the previous auctions. A total of $118 billion in TSY notes will be sold. Here is the schedule: Tuesday: $44 billion 2 year notes Wednesday: $42 billion 5 year notes Thursday: $32 billion 7 year notes Settlement is March 31 Because the majority of debt supply is concentrated in the front end of the yield curve, traders have been selling the curve---aka trading the "flattener". The yield curve can flatten one of two ways: Bear or Bull A bull flattener is when yields in the long end of the curve are falling faster than yields in the front end of the yield curve. For instance if 10yr TSY note yields are falling faster than 2yr TSY notes, then the spread between...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.