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Running feels great unless you compare it to not running. While here in Northern California for a board meeting, I received, “I read your capital markets section every day because I can understand it, but can you please knock off using ‘basis points’? They are confusing.” I admit they take a while to understand, but easy to compare & convert the two. 1 percent is 100 basis points. 50 basis points is ½ of one percent. 75 basis points is ¾ of one percent. I mention this because “seventy-five basis points is the new 50 basis points....

ENewsChannels NEWS: -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Trends Report covering the third quarter (Q3) of 2021. The latest report provides an analysis of post-closing quality control data derived from ACES Quality Management & Control® software. :: News from eNewsChannels

Are you afraid of the day that the Federal Reserve stops buying mortgage-backed securities? “Afraid” is too strong a word. (For many, this activity would define “afraid” … kids, don’t try this at home.) But the largest buyer, of Agency MBS, which now owns 30 percent of outstanding Agency securities, has now sped up the pace of stopping its program. When I worked on a trading desk, back in the Paleozoic era, the saying was, “Don’t fight the Fed.” We can fully expect tig...

ENewsChannels NEWS: -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Trends Report covering the second quarter (Q2) of 2021. :: News from eNewsChannels

To embed, copy and paste the code into your website or blog: FHA recently issued Mortgagee Letter 2021-17 (ML 2021-17), which announces updates to certain Quality Control (QC) review requirements in the Single Family Housing Policy Handbook 4000.1 (SF Handbook 4000.1), Section V.A.3.c.ii(C), including the expiration of a COVID-19 temporary partial waiver of these requirements. The temporary partial waiver, which was initially announced in June 2020 and extended in December 2020, sought to temporarily provide mortgagees with flexibility regarding QC field reviews of appraisals due to the COVID...