Lorinda Rose James

Lorinda Rose James
Senior Loan Officer
NC License #MLO I-132945
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FL License #MLO-159163
SC License #MLO100155
PA License #MLO-43967
WV License #MLO-32943
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DE License #MLO-904482
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OH License #MLO-LO.043890.000
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: Moderate Selling Followed by Heavy Selling and Tons of Reprices

Posted To: MBS Commentary

Bond markets had a bad day. The setup for this one started as early as Tuesday, when what looked like a shift toward weakness on Monday was instead greeted with a refreshing amount of resilience. Despite the fact that the resilience was based on geopolitical risk, it may have nonetheless set us up to hope that we could hold our ground. Then, when today's Geneva talks produced news of deescalation, bond markets were quickly forced to pay back some of the panic premium they'd benefited from earlier in the week. The geopolitical story accounts for the brunt of the afternoon weakness , and perhaps some of the morning weakness. Even then, the economic data was unequivocally stronger. Jobless Claims continue hovering around territory they haven't hovered around since before the crisis...(read more)

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Mortgage Rates Sharply Higher to End The Week

Posted To: Mortgage Rate Watch

Mortgage rates moved sharply higher today on a combination of factors including strong economic data, developments in Ukraine, and prevailing market momentum. That momentum risked turning negative as soon as Monday, when rates ended their impressive 7-day rally. Rather than simply turn around and head the other direction, however, rates managed to hold mostly sideways until today. Part of the resilience had to do with Geopolitical risk swelling earlier in the week. As we noted on Tuesday , such strength only lasts as long as the risk stays elevated. "When it comes to bond market rallies that draw strength from geopolitical risk, the 'catch' is that they rely on that risk staying elevated if the gains are to persist. That means the longer Ukraine goes without breaking out into civil war, the...(read more)

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MBS MID-DAY: Bond Markets Weaker After Economic Data Prompting Negative Reprices for Mortgage Rates

Posted To: MBS Commentary

Given the recent adherence to a sideways range in bond markets combined with today's economic data coming in stronger than expected, it's not surprising to see yields moving from a lower rung on the range-bound ladder to the next rung higher. This move was already a consideration yesterday as 10yr yields lifted off from the 2.60 resistance level. The next rung on the technical ladder is 2.68, which is where we're currently trading. Weakness was delivered in 3 installments this morning. The first came just before the open as overnight trading turned negative in the 7am hour. The stronger-than-expected Jobless Claims added insult to injury, beating expectations by 11k (304k vs 315k forecast). Bonds recovered somewhat only to get hit again by stronger Philly Fed data. MBS had fallen...(read more)

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Homes in Foreclosure Increasingly have Positive Equity

Posted To: MND NewsWire

Homes with serious negative equity numbers have now declined to the lowest point in at least two years RealtyTrac said today. The company, which began tracking so-called underwater properties in the first quarter of 2012, estimates that in the first quarter of 2014 9.1 million U.S. homes had loan balances at least 25 percent higher than the properties market value or a loan-to-value ratio (LTV) of 125 percent. This is 17 percent of all U.S. properties with a mortgage. In the fourth quarter of 2013 RealtyTrac said there were 9.3 million properties or 19 percent of mortgaged homes that were that seriously underwater and in the first quarter 2013 there were 10.9 million or 26 percent. The recent peak in negative equity was the second quarter of 2012, when 12.8 million U.S. residential properties...(read more)

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Purchases Continue Taking Market Share; FICOs Trending Lower

Posted To: MND NewsWire

Ellie Mae's Origination Insight Report said today that 40 percent of mortgage loans closed in March were originated for refinancing and 60 percent for home purchases. In February the split was 43/57 percent. The March figure was the lowest share for refinancing since Ellie Mae began reporting the data in late 2012. Ellie Mae gathers data from a sample representing the approximately 57 percent of all mortgage applications that pass through its management software and systems. Jonathan Corr, president and COO of Ellie Mae said, "We continue to see the resurgence of a purchase-centric market as numbers inch closer to historical levels. Purchases increased another three percentage points in March 2014 to represent 60 percent of loans, quite the difference from March 2013 when purchases represented...(read more)

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