Freddie Boosts Refinance Outlook on Lower Rates
A significant improvement in the forecast for refinance production has been made by Freddie Mac thanks to falling rates. Even expected purchase lending increased.
Mortgage Refi Applications Jump, Purchases Dip
As interest rates on home loans declined to a six-month low, weekly applications for mortgage refinances accelerated. But purchase financing activity was weaker.
HUD Budget Includes New FHA Administrative Fee
The Department of Housing and Urban Development's proposed budget includes a new administrative fee on government-insured mortgages to fund technology updates.
FHA Originations Rising, Delinquency Tumbles
The monthly volume of home loans insured by the Federal Housing Administration turned higher, and a further increase is on the way. Delinquency, meantime, sank.
The New Mortgage Landscape
As banks have been under heavy regulatory scrutiny since the financial crisis, smaller non-banks have gained market share through technological improvements to the loan process.
Staff Up Despite Drop in Movement Mortgage Fundings
|Mortgage Business Jumps, Jumbo Soars
New mortgage business took a giant leap following Mothers Day. Although jumbo rates deteriorated, new jumbo activity doubled during the latest seven-day period.
Movement Mortgage LLC saw a decline in quarterly home lending volume, though less than at many of its peers. Still, the company managed to increase the number of people on its payroll.
Churchill Mortgage Originations, Staffing Down
As quarterly home lending activity slowed at Churchill Mortgage Corp., the size of the mortgage-banking firm's staff was reduced.
Mortgage Turn Times Improve as Refi Share Drops
As the refinance share of mortgage originations continues to deflate, the amount of time it takes to process a loan from application to closing continues to decline.