home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Refinance News | Refinance Share Statistics
News about refinancing programs, pricing and production. Stories about the H o m e
Affordable Refinance Program, H A R P 2.0 and other Making Home Affordable coverage.


Cashouts Maintain

82% of Freddie's Q1 refis included cashout

May 1, 2007

By MortgageDaily.com staff


More than four out of five refinances included cashout during the latest quarter.

The share of cashouts on refinance loans acquired by Freddie Mac during the first quarter was 82 percent, according the secondary lender's first quarter refinance review. The figure was unchanged from revised fourth quarter figures while it trailed the 86 percent reported for a year earlier.

In dollars, $70.5 billion was cashed out in the latest quarter, the McLean, Va.-based company reported.

Freddie defines cashout as a refinance where the balance increased by at least 5 percent.

Low fixed rates helped steer borrowers away from home equity loans into cashout refinances, Frank Nothaft, Freddie's chief economist, said in the announcement.

"Cashout refinance volume is expected to decline over 2007, due to an expected 6 percent reduction in overall mortgage origination activity and a fall in the refinance share of originations to around 44 percent for the year," Freddie economist Amy Crews Cutts said in the statement.

Freddie reported refinance activity accounted for 46 percent of its first quarter business, while refinances represented 43 percent of all applications tracked in the Mortgage Bankers Association's latest weekly survey.

"One-half of those borrowers who paid off their original loan and took out a new one increased their mortgage coupon rate by ... roughly three-eighths of a percentage point at today's level of fixed mortgage rates," according to the government-sponsored housing enterprise.

Freddie noted that as of last September, there were about $170 billion in prime adjustable-rate mortgages scheduled for interest rate adjustments this year. The figure has dropped to $30 billion as of March.

Mortgage Rate News | Mortgage Market Index | ARM indices | ARM Statistics
Average fixed and ARM rates. Rate forecasts. Quotes on ARM indexes including COFI, MTA, LIBOR & Treasuries. Rate reset studies and reports. Mortgage rate litigation.



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders