Lorinda Rose James

Lorinda Rose James
Senior Loan Officer
NC License #MLO I-132945
VA License #MLO 2851-VA
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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
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OH License #MLO-LO.043890.000
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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

Big Changes at Ginnie; GSE Updates; Zillow Buying Trulia?

Posted To: Pipeline Press

"Rob, you have mentioned before that you are beginning to see some companies' volumes slowing down, and maybe even some lay-offs . Is that still happening?" Yes it is. Established lenders, even those adding production units, are looking at their historical purchase volumes and forecasting things for the 2 nd half of 2014. The longer rates stay here or go up, the more refinances will drop, and practically every lender sees a marked decline in purchase volumes during the autumn and winter. Companies are moving toward a variable cost structure, and yes, unfortunately layoffs can be part of the equation - the latest example being RoundPoint Mortgage eliminating 166 jobs . And Zillow might buy Trulia ? That would cause quite a stir... Do you think GSE reform is still a possibility? Snort. Congress...(read more)

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MBS Day Ahead: Too Much Too Soon for Bond Market Rally Ahead of Big Week?

Posted To: MBS Commentary

Next week is a big one. ADP/GDP/FOMC all hit on Wednesday. Month-End is on Thursday, and NFP is on Friday. There are other top-tier reports as well, and a Treasury auction cycle, but the named peril is more than enough evidence for the big potential. This round of GDP seems extra special, because it follows a first quarter reading that was extra special in its own way. There's a lot going on here with respect to GDP, and we'll talk more about it next week, but the point for this week is that markets bellied right up to the long-term bar well in advance of the data that will likely determine whether or not they stay there. By "the bar," I mean the longer term range boundary for 10yr yields in the mid 2.4's (call it 2.47, 2.44, whatever...). If they did indeed arrive a bit...(read more)

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Mortgage Rates Rise at Fastest Pace in Weeks

Posted To: Mortgage Rate Watch

Mortgage rates moved higher today at the fastest pace since July 3rd as bond markets began backing away from more anxious levels associated with last week's geopolitical headlines. Such headlines (Malaysian airliner and Gaza invasion) can motivate investors to seek safe-havens such as Treasuries and MBS (the mortgage-backed securities that influence mortgage rates). Since last week, bond markets have been relatively on edge but never moved any lower than the initial move on Thursday. If there has been one day since then that "undoes" the flight-to-safety, today is the best candidate. This isn't for any particular reason either. Sometimes when it comes to financial market movements, "it's just time." A few caveats here though... First of all, the movement wasn't exceptionally large in a historical...(read more)

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MBS RECAP: Week's Monotonous Trend Broken as Bond Markets Slide

Posted To: MBS Commentary

For the past 4 sessions, bond markets have traded a narrow range near their best levels of the year. This effectively began with the geopolitical risk rally on the 17th. It's not entirely fair to say the narrow trend is over, but if not, it's being stretched to the limit today. Fannie 3.5s are heading out the door just over 3/8ths of a point weaker. This began in the overnight session as European bond markets (using Germany as a benchmark) moved up in yield from their own lowest levels (though in their case, it was all-time lows). Domestic data didn't help as Jobless Claims were much stronger than expected. New Home Sales helped stem the tide of losses by coming in much MUCH weaker than expected. That said, the losses were only really stemmed for Treasuries. MBS maintained a modestly...(read more)

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Housing Market Sending Mixed Signals -Freddie Mac

Posted To: MND NewsWire

Freddie Mac said today that its Multi-Indicator Market Index or MiMi for May is sending out mixed signals to the housing market. While more markets entered their stable range of housing activity, most markets remained stalled, just as they were in April, due primarily to weak mortgage application activity. MiMi is designed to monitor and measure the stability of the housing market nationally and in the states and 50 top metro markets relative to the long-term stable range in each. The index combines proprietary Freddie Mac data with current local market data on home purchase applications, payment-to-income ratios (changes in home purchasing power based on house prices, mortgage rates and household income), proportion of on-time mortgage payments and the local employment picture. The data is...(read more)

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