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| Last Updated |
Friday, May 24, 2013 |
05:31 PM |
Central |
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Home Purchase Financing Picks Up
Loan originators managed to overcome the slowdown that normally precedes a holiday week and pushed activity higher. Leading the way were purchase transactions and government-insured business.
Loan pricing inquiries increased 3 percent from last week, lifting the U.S. Mortgage Market Index from LoanSifter and Mortgage Daily for the week ended May 24 to 264. Business was 4 percent better than the same week last year.
An 8 percent rise from the week ended May 17 was recorded for purchase financing activity, while the year-over-year increase for the category was 16 percent.
read story
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Delinquency Falls to 4-Year Low at Freddie
It has been almost four years since residential loan performance has been this good at the Federal Home Loan Mortgage Corp., while it's been more than four years since the rate of late payments on apartment loans has been this low. New business, however, slowed. |
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Private Investors Fund Growing Firm
Private investors have ponied up more than $100 million to help a growing mortgage firm fund further growth in originations and servicing. |
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Mortgage Bankers More Optimistic About Refi Originations
For three consecutive months now, mortgage bankers have raised their forecast for this year's refinance originations while maintaining their outlook for purchase production.
2013 Refinance Outlook Improves
Just a month after it was lowered, the forecast for residential refinance originations was lifted for this year. Mortgages outstanding are on track to exceed $10 trillion again.
Production Jobs Dominate Mortgage Hirings
Two years ago, it was mortgage servicers that were doing most of the recruiting in real estate finance. Today, however, it is increased mortgage originations that are driving mortgage recruiting efforts.
Refi Outlook Raised, Purchase Forecast Trimmed
The outlook for this year's refinance volume has been increased at the expense of purchase production. Expectations for government share were lifted for 2013.
Cost of Compliance
A recent survey of credit unions found that complying with the Dodd Frank Wall Street Reform and Consumer Protection Act of 2010 means that interest rates on loans will be higher, hiring will be reduced and third-party servicing will increase. Some financial institutions even intend to scale back mortgage originations.
Mortgage Lenders Continue Easing Approval Requirements
For much of this year, mortgage lenders have been loosening their lending standards. On government-insured refinances, average credit scores have tumbled nine points over the past year. |
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Mortgage Backed Securities | MBS News | MBS Statistics
News about commercial and residential mortgage-backed securities. Stories about ratings actions and changes to servicer ratings. Studies and reports about the performance of securitizations and problem vintages and classes. Subprime, Alt-A, home equity and j u m b o analysis.
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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.
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Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.
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LOs See Big Jump in 2012 Production
Average loan production for participants in the 2012 Loan Originator Survey was mostly unchanged between 2010 and 2011. But thanks to a robust refinance market, 2012's business is on pace to jump 40 percent. A small share of surveyed loan officers originate commercial real estate loans.
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Biggest Mortgage Lenders
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Market Share Statistics
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Refinance News
News about refinancing programs, pricing and production. HARP news.
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Mortgage Industry Directory
Profiles of conforming, Alt-A and subprime mortgage bankers.
Production data, servicing portfolio size and senior executives.
Parent companies & related businesses. Latest company news.
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