Lorinda Rose James

Lorinda Rose James
Senior Loan Officer
NC License #MLO I-132945
VA License #MLO 2851-VA
FL License #MLO-159163
SC License #MLO100155
PA License #MLO-43967
WV License #MLO-32943
DC License #MLO-100155DC
DE License #MLO-904482
TX License #MLO-100155TX
NJ License #MLO-100155NJ
MD License #MLO-25376MD
OH License #MLO-LO.043890.000
MA License #MLO-100155
NMLS # 100155
Branch NMLS # 71158
(click links above to check licenses)

Direct: 757-605-4642
Mobile: 757-348-6513
Fax: 757-605-4257

200 Golden Oak Court, Ste. 100
Virginia Beach, VA 23452

Questions? Call Lorinda Rose James at 757-605-4642.
We are always available to help make sense of the market.

Mortgage News Daily News Feed


MBS RECAP: Some Weakness and a Few Reprices, but Mostly Holding Ground

Posted To: MBS Commentary

More due to timing and coincidence than anything, we got a few negative reprices this afternoon. Shortly thereafter, prices moved right back mid-point of today's trading range and never left . That said, things were a bit weaker in Treasuries. A small amount of weakness was intact after the overnight session, but bonds were able to move into positive territory just after 10am. The most helpful factor was a stock market sell-off at the same time. It would then prove to be unhelpful into the afternoon as Treasury yields moved higher with stocks. MBS are simply one step removed from that 'stock lever' movement, and thus lost less ground . The incremental weakness in Treasuries could also have to do with the week's upcoming auction supply. MBS Pricing Snapshot Pricing shown below...(read more)

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Mortgage Rates Unchanged to Start Important Week

Posted To: Mortgage Rate Watch

Mortgage rates didn't move much to start the week, with a nearly equal number of lenders moving both higher and lower. On average, rates were just barely higher. Even then, the actual rates being quoted are the the same today versus Friday with the only differences seen in the form of closing costs. The most prevalently quoted conforming 30yr fixed rate remains at 4.25% for flawless scenarios with 4.125% available to a lesser extent. As the week progresses, so should the movement in the world of interest rates. Mortgages and Treasury yields alike have been bumping around at the lower end of their ranges in 2014. There's a decent chance that this week's events will either help break those ranges, or prompt a bounce back toward higher levels. Bottom line, rates have been low and sideways, but...(read more)

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CFPB Seeks to Modify HMDA Data Collection; Raises Privacy Concerns

Posted To: MND NewsWire

Public comments are being requested a a new proposed rule for collecting data under the Home Mortgage Disclosure Act (HMDA). The Consumer Financial Protection Bureau (CFPB) said the new rule includes changes the could help in shedding more light on consumers' access to mortgage credit . The Bureau said it also aims to simplify the reporting process for financial institutions. HMDA, enacted in 1975, requires that many lenders report information regarding home loans for which they receive applications or originate or purchase. The information is available to both the public and to regulators who can use it to monitor whether financial institutions are serving the needs of their communities and to identify discriminatory lending patterns. The Dodd Frank Wall Street Reform and Consumer Protection...(read more)

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MBS MID-DAY: Hold Ground, Moderately Weaker, but Outperforming Treasuries

Posted To: MBS Commentary

Very little happened in the overnight session and very little has changed into the domestic trading hours. Bond markets were a bit weaker overnight and have found little reason to do much else so far today. The only significant data today was the Pending Home Sales report which came in weaker than expected at -1.1 vs a +0.5 forecast. That said, the index value remains over 100.00 (102.7, specifically) signifying positive progress. Bond markets made their only noticeably positive move around that time, but it had much more to do with a significant move lower in stock prices after the 9:30am opening bell. The S&P lost 8 points from 9:37 to 9:50, with only a small amount of additional movement coming after 10am. Shortly thereafter, bonds were heading back to their previous levels. Treasuries...(read more)

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Home Prices up Again in May Black Knight says

Posted To: MND NewsWire

The Home Price Index (HPI) released on Monday by Black Knight Financial Services showed another strong month-over-month gain for housing values in May. The HPI increased by 0.9 percent to a value of $239,000 from $236,000 in April. The index is up 3.4 percent from the beginning of 2014 when it registered at $231,000 and 5.4 percent from May 2013 when the value was $224,000. Black Knight's Data and Analytics Division bases its HPI on residential real estate transactions combined with information from its own property and loan level databases. This is used to produce a repeat sales analysis for more than 18,500 U.S. ZIP codes. Prices accelerated the most in Rhode Island which was up 1.5 percent for the month and in Michigan, Colorado, and Connecticut, each of which rose +1.4 percent. Five states...(read more)

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