Waterstone names Jennifer George VP of investor relations and credit policy
Wisconsin-based mortgage lender Waterstone Mortgage Corp. promoted Jennifer George to vice president of investor relations and credit policy.
Wisconsin-based mortgage lender Waterstone Mortgage Corp. promoted Jennifer George to vice president of investor relations and credit policy.
With recent moves by the the Federal Deposit Insurance Corporation (FDIC), in conjunction with the Treasury and Federal Reserve Bank, to protect deposits at two large banks, many people are wondering what the FDIC is, exactly, and what it does. The Federal Deposit Insurance Corporation, or FDIC, is an independent agency of the U.S. government. […]
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Despite the announcement of a Fed/Treasury/FDIC backstop for SVB and Signature Bank, financial markets are trading as if current events imply a sea change for economic momentum, inflation, and the Fed rate hike trajectory. It’s pretty much that simple. What’s not so simple is determining whether or not that trading will prove to be justified by changes in consumer behavior. Also complicated will be the task of reacting to economic data for the month of February when the sea change wasn’t even an idea until last week.
In theory, thereâs no limit to how many individual retirement accounts (IRAs) one person can have. A retirement saver could potentially maintain more than one traditional IRA, Roth IRA, rollover IRA, or simplified employee pension (SEP) IRA in order to gain certain tax advantages now, and potentially down the road. That said, the rules governing […]
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Breaking Down the Big Move in Rates and Considering The Road Ahead The 2nd and 3rd largest bank failures in history have happened over the past 3 days. Markets reacted in a logical direction. If anything, the drop in rates was made bigger by the fact that the market is searching for evidence that it’s time for the Fed to dial back its hawkish rate policies. That’s what today ended up being mostly about: the market betting on a MUCH lower rate hike profile in the coming months (and rate CUTS starting in a few short months). Between Tuesday’s CPI data and next week’s Fed announcement we’ll have the data we need and the requisite amount of cooling-off time to have a much better sense of what the road ahead looks like. Today’s video discusses several of the options, and much more. Econ Data / Events No significant econ data Market Movement Recap 08:59 AM Supermassive bond rally overnight, led by short-term rates. 2yr down more than 50bps at times. 10yr currently down 25bps at 3.45. MBS up just over 3/4ths of a point. 12:36 PM Strongest levels of the day at 11am and selling off a bit since then. 5.5 coupons still up 3/4ths on the day, but down half a point from highs. 10yr yield up 11bps from lows and now near highs of day at 3.524, but still down 18bps overall. 04:07 PM MBS now up “only” 22 ticks (.69) and 10yr down “only” 16bps at 3.545. Both are quite a bit weaker on the day, but the pace of losses has been gradual
Youâve heard about, you know about it. Last week, Silicon Valley Bank was the target of a bank run, prompting the FDIC to take over the troubled company on March 10th. It was the first bank failure since October 2020, and was quickly followed by another failure, NYC-based Signature Bank. That prompted the Federal Reserve… Read More »Mortgage Rates vs. Bank Failures
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The collapse of Silicon Valley Bank and Signature may trigger lower mortgage rates, but it will likely increase scrutiny on IMBs and their risk management strategies.