Rate Desk Tuesday, March 30, 2021

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March 30, 2021 edition of Yield PRO TV Rate Desk with Michael Thomas. With HUD volume at an all-time record high, be aware of queue timelines and make sure your application is complete before submission to avoid delays.

Rate Desk notes March 30, 2021
  • UST moves from under 1.00 (Q4’20) to 1.72 (Q1’21)
  • 223(f) 2.57%
  • 221(d)(4) 3.32%
  • Fannie 3.81%
  • Freddie 4.01%
  • GSE spreads over FHA rates up from 0.90 to 125% in 2021
  • HUD 30-year-fixed versus FHA 10-year
  • HUD volume continues at an all-time record high
  • HUD issued over $2 billion in loan commitments in February
  • HUD queues:
    • 223(a)(7), 30 days
    • 223(f), 45 days
    • 221(d)(4), 110-200 days
  • Environmental issues closed prior to submission
  • Non-critical repairs completed BEFORE loan submission
  • Consider requesting extension of firm commitment in first amendment request