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.

Purchase Financing Defies Overall Weekly Slump Although overall new mortgage activity was slower this week, purchase financing was up, albeit only slightly. Adjustable-rate mortgage activity also ticked higher.

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.