MBS RECAP: 3/16/2012

By: Matthew Graham
MBS Live: MBS RECAP
Open MBS Live Dashboard
FNMA 3.5
102-13 : +0-03
FNMA 4.0
104-19 : +0-01
FNMA 4.5
106-05 : +0-01
FNMA 5.0
107-27 : -0-01
GNMA 3.5
103-26 : +0-01
GNMA 4.0
107-03 : -0-01
GNMA 4.5
108-22 : -0-01
GNMA 5.0
110-13 : -0-03
FHLMC 3.5
102-06 : +0-03
FHLMC 4.0
104-11 : +0-01
FHLMC 4.5
105-28 : +0-01
FHLMC 5.0
107-18 : -0-02
Pricing as of 4:00 PM EST
Afternoon Market Updates
A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard.
12:36PM  :  ALERT: Some Positive Reprices Already, Maybe More if Recent Gains Hold
Several lenders have reported positive reprices after Fannie 3.5's broke and held 102-06. They moved as high as 102-10 before falling back down to test the 102-06 pivot. So far, it's held as support and prices are currently 102-07. Treasuries meanwhile have traded lower in yield in a volatile but linear path of consolidating trends (triangle). The longer MBS hold the 102-06 or higher, the better the chances that a few other lenders will reprice positively with 102-10 being the mark we'd think would result in a majority getting on board. Conversely on the weak side, a test of 102-03 would be slightly disconcerting while a break below would be more so.
Featured Market Discussion
A recap of the featured comments from the Live Discussion on the MBS Live Dashboard.
Eric Franson  :  "REPRICE: 3:07 PM - Wells Fargo Better"
Lisa Alley  :  "REPRICE: 3:02 PM - Pinnacle Better"
Daniel Cruz  :  "REPRICE: 2:45 PM - Sun West Mortgage Better"
Andrew Peterson  :  "REPRICE: 2:45 PM - Interbank Better"
Craig LaBruno  :  "REPRICE: 2:17 PM - GMAC Better"
Aaron Peek  :  "REPRICE: 2:11 PM - Flagstar Better"
Craig LaBruno  :  "REPRICE: 2:09 PM - PHH Better"
Jason York  :  "REPRICE: 2:07 PM - Suntrust Better"
Oliver S. Orlicki  :  "This is the best resource in the industry"
Rob Clark  :  "second one for provi"
Rob Clark  :  "REPRICE: 1:33 PM - Provident Funding Better"
Dan Clifton  :  "capping at 150% LTV and for Fannie if over 105%you must get a PIW or they wont take the loan"
Dan Clifton  :  "flagstar rep just called with their Harp 2.0 overlay"
Victor Burek  :  "REPRICE: 12:31 PM - Plaza Better"
Jill Statz  :  "REPRICE: 12:14 PM - Flagstar Better"
Jill Statz  :  "REPRICE: 12:09 PM - Provident Funding Better"
Roger Moore  :  "REPRICE: 11:53 AM - NYCB Better"
Ira Selwin  :  "REPRICE: 11:23 AM - Franklin American Better"