Larry Bailey

Fri, Feb 13 - 10:11 AM ET
Consumer Sentiment slightly lower at 56.2 vs exstimates of 60.2. MBS trading near session lows. Stocks near unchanged.

8:40 AM ET - Year-to-date the Fed purchases nearly $115B in MBS as reported yesterday. MBS flat, while Stock Futures slightly lower. Oil at $34.72/barrel up 75 cents.

ALERT TO LOCK!!

Assembly Title is in Hainesport NJ on Route 38 and wants to help your Business Grow

We are located at 1441 Route 38 West, Hainesport NJ 08036. Our phone is 609-267-2000 and our fax is 609-265-3880. The best email address to use is AssemblyTitle@AssemblyTitle.com This email address is received by everyone in our Processing and Operations Departments to ensure that all needs are met and nothing falls through any cracks.

We will be launching a new website shortly that will allow you to have an immediate Title Quote for insurance, as well as a launch to our Flat Fee Structure and Customer Appreciation Program.

Also, be on the look out for the Premier of our Program Release of Best Practices on how to create and most importantly CONVERT your leads into CLOSINGS. You will be shocked on how many times simple things are done or missed that costs so very much.

Your experience, as well as your Customer's is always one to smile about. We belive in creating "Raving Fans" though all of our Relationships. We also take every opportunity to remind the Borrowers or Sellers that YOU are the reason why this is going so well. This way, there is little room for that Borrower to shop around for what they think may be a better "deal."

As always, if you are in need of anything, please feel free to contact me. I will respond as immediatly as possible.

Larry Bailey

609-760-7222 Mobile

Lbailey@AssemblyTitle.com

Current Trend Direction: Sideways

Risks favor: Locking

Current Price of FNMA 4.5% Bond: $101.19, +9bp

Retail Sales unexpectedly increased in January for the first time in 7 months coming in at 1.0% versus estimates of -0.8%. When stripping out auto sales, the number came in at 0.9%, also beating expectations of -0.4%. Mortgage Bonds brushed off the better than expected news and are trading near the unchanged mark so far this morning, thanks to a weaker Stock market.

The number of Initial Jobless Claims in the week ending Feb. 7 fell 8,000 to 623,000, slightly better than expectations, but a level that is 84% higher than the same period in the prior year. For the week ending Jan. 31, the number of Americans receiving state jobless benefits rose 11,000 to a record 4.81 million. The growing number of continuing claims shows the Job market continues to weaken.

The stimulus plan was finalized last night and is now headed for passage from the House and the Senate for final vote, then on to President Obama's desk for signing. The package was scaled down to $789B made up of tax cuts and spending programs aimed at reviving the US economy. Once the details are released, we will report to you on the specifics that effect our industry.

After some nice price improvements, the Bond is now pressed up against the dual ceiling of resistance at the 50 and 25-day Moving Averages. We feel a bias towards locking is warranted.

Thu, Feb 12 - 5:00 PM ET
Market Wrap: Our benchmark 4.5% FNMA bond was pushed up and down within a 41bp range on mixed economic, bond auction, and mortgage related news. The bond ended the wild session 19bp lower at $100.91. Retail Sales surprised to the upside snapping a six month losing string by rising +1.0% in January, their largest gain since November 2007. The unexpected gain in Retail Sales easily exceeded the consensus estimate of -0.3%. Weekly Jobless Claims showed the labor market remains perilously weak with 623,000 new claims vs. a consensus forecast of 610,000. The four-week moving average increased by 24,000 to 607,500 claims, the highest level in more than 26 years. The four-week moving average for continuing claims hit a new all-time record, increasing by 73,750 to reach 4.75 million. A $14 billion auction of 30-year Treasury bonds ended poorly with a bid-to-cover ratio of 2.02 and foreign participation of only 33.9%. This lower demand sparked a bond market sell-off as did breaking mortgage news. Reuters reported the Obama administration is working on a new program to subsidize and modify existing mortgages using a standardized re-appraisal and affordability test. The program would be used to not only rescue homeowners with delinquent mortgages but it also could be used to aid distressed borrowers before they became delinquent with their mortgages. The mortgage news triggered a sharp late-day reversal in stocks allowing the stock market to recover from steep losses. The Dow bounced back by 245 points before posting a loss of just 6 points to close at 7,932. The broader S&P 500 Index gained a point to end at 835 while the NASDAQ Composite Index rose by 11 points to close at 1,541.

4:08 PM ET - Stocks rally and move to unchanged at the close after the report about rescuing troubled homeowners.

3:40 PM ET - Reuters reports that The Obama administration is working on a program to subsidize mortgage payments for troubled homeowners who have gone through a standardized re-appraisal and affordability test, sources familiar with the plan said on Thursday.

3:10 PM ET - NY Fed bought $23.2B in MBS concentrated in 4% and 4.5% bonds from Fed 5 through Feb 11.

2:50 PM ET - Oil closes at $33.90/barrel down $2.04. Stocks fall back to their worst levels of the day. MBS slightly higher.

1:32 PM ET - Alert To Lock! MBS seem unsteady as they troll near session lows.

1:07 PM ET - MBS hit new daily low. 30 yr Note auction below average demand.

11:28 AM ET - MBS now revisiting their lowest level of the day. Stocks trying to make a come back but still in the red.

9:54 AM ET - Vote on stimulus plan not likely until tomorrow. MBS continue to trade in a sideways pattern. Stocks move a leg lower - the Dow is off 200 points.

9:42 AM ET - Stocks fall at the open as investors feel that the $789B stimulus plan can't help the US economic recovery. Oil drops below $35/barrel to $34.80 down $1.14.

8:37 AM ET - Retail sales come in better than expected for the first time in 7 months. MBS tick near unchanged. Stock futures lower.

8:25 AM ET - Stimulus passes through Senate now headed for passage in the House & Senate for final vote then on to President Obama's desk for signing. Stocks lower on what could be the worst reatil sales number in 40 years. MBS slightly higher. Oil dips below $36/barrel to $35.14.

Assembly Title, LLC is a breath of "Fresh-Air" in the title business. There are many reasons why I am proud to have joined Assembly Title, LLC.

One of them is that we make sure that your clients are treated in the highest regard. We strive to make sure that they are constantly reminded that you are the reason why this transaction is happening, and we are here, as agents, to ensure an outstanding experience with a timely closing.

Another reason is that the owner, Ted Costa, has owned a title company since 1986. With him as a highly experienced Attorney, we can help you and all of your clients by leveraging his skills, experiences, and expertise in whatever way necessary to get your deal closed.

Just one more reason is that I am able to directly control the entire Marketing and Sales Departments of the Company. This means that I can finally help anyone, who is interested in help, with their needs for better Marketing Support, Sales Support, Lead Generation and the MOST important issue...LEAD CONVERSION. You can buy leads from any source you want. The costs can range from 5 cents per lead to as much as 35 dollars per lead. The reality is that if you are not converting them, the cost is always too high. Ask me how to create the BEST PRACTICES for the BEST CONVERSION RATES.

All if takes for us to connect is a phone call, email, text message or any other form of communication to let me know that you are tired of your current title relationship always taking, and not giving. As an active member of BNI (Marlton Regional Chapter of NJ), you can rest assured that I follow the ideal very closely. That ideal is "GIVERS GAIN."

Contact me for more information anytime.