Tidewater Mortgage Services, Inc.
NMLS # 71158
Branch NMLS # 71158
(click links above to check licenses)
Direct: (757) 498-7400
Fax: (757) 498-7435
200 Golden Oak Ct., Suite 100
Virginia Beach, VA 23452
Questions? Call Tidewater Mortgage Services, Inc. at (757) 498-7400.
We are always available to help make sense of the market.
Mortgage News Daily News Feed
Posted To: Pipeline PressA few weeks ago I wrote about the "over 65ers", the age demographic which is very much a part of the baby-boom generation. Recently the U.S. Census Bureau released " The Centenarian Population: 2007-2011 ," which focuses on those who have reached a milestone many of us won't get to in life: 100 years of age. It's an interesting demographic , maybe one which gets overlooked considering only 55,000 Americans fall into this group (versus, say, 90 million Millennials aged 18-34). In job news, TruHome Solutions , LLC is seeking a Vice President of Servicing to join its Leadership team as part of its long-range plan to increase its servicing portfolio. TruHome services over $3 billion for its clients as both a servicer and a sub-servicer, and has plans to significantly grow the servicing portfolio...(read more)
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) said the average size of a purchase mortgage loan reported by respondents to its most recent Weekly Mortgage Applications was $280,500, the highest in the history of the survey . MBA said this coincides with the trend in rising purchase activity for larger loan amounts. MBA's Market Composite Index, a measure of loan application volume, was down 3.3 percent on a seasonally adjusted basis during the week ended April 18 compared to the previous week during which the composite saw its first increase since late February. On a seasonally unadjusted basis the Composite was down 3.0 percent. The Refinancing Index fell 4 percent and the market share of refinancing applications dropped to 51 percent of applications, down from 52 percent during the week ended April...(read more)
Posted To: MBS CommentaryThe first two days back from the extended weekend have been surprisingly uneventful, and that's saying something considering they were already likely to be fairly quiet. There hasn't been much by way of potential market movers so far and if yesterday's Existing Home Sales data had a chance, it blew it by coming in right on top of forecasts and with negligible revisions. Today brings the government version with the New Home Sales set for 10am and expected to come in at similarly tepid levels. The only other potential market mover on the calendar is the afternoon's 5yr Treasury Auction at 1pm. Unlike yesterday's 2yr auction, this one is more relevant to the area of the yield curve that speaks to MBS. Moreover, 5's are the 2nd most traded Treasuries next to 10's, so...(read more)
Posted To: MBS CommentaryThe overarching caveat for any assessment of today's market activity is that the whole thing occurred in a relatively tight range. Sustained highs and lows were in a 4/32nds range in MBS and just over 2bps in 10yr yields. There was little, if any reaction to this morning's economic data or the 2-yr Treasury auction. The biggest movement of the day was completely disconnected from anything overtly observable, including the stock lever. Earlier this morning, it looked as though bonds and stocks might try to reconnect as selling pressure in bonds after 9am gave way to a stronger open for stocks. We were later forced to abandon that consideration as bonds rallied moderately into the noon hour despite an ongoing advance in stocks. The bond market action began looking more like the serendipitous...(read more)
Posted To: Mortgage Rate WatchMortgage rates drifted higher for the second straight day despite a relatively flat day for underlying bond markets. Rates pushed into their 2-week highs yesterday, but are still well under the levels seen in the first week of April. Today's weakness didn't have an effect on contract rates, but it did make for slightly higher closing costs. The most prevalently quoted conforming 30yr fixed rate for best-case scenarios ( best-execution ) remains at 4.5% . When adjusted for day-to-day changes in closing costs, today's rates are 0.02% higher. In determining your personal approach to the mortgage rate environment in 2014, the sideways range that we've seen since mid January is the most useful road map. Within that range, the average top-tier mortgage rates have been centered on 4.375 to 4.5% most...(read more)