Mortgage Activity Up Again Falling mortgage rates motivated an increasing number of borrowers this week to inquire about a refinance, though inquiries for purchases were also higher. Rates, however, are poised to deteriorate. Refinance activity more than doubled compared to a year ago. Despite a widening spread over conforming rates, more jumbo borrowers were out shopping for a loan. The number of prospective borrowers who inquired about a mortgage rose 4 percent from last week, leaving the U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily for the seven days ended Feb. 3 at 270. The index was 48 percent higher than the week ended Feb. 2, 2011. read story

Multifamily Business Strengthens at Freddie
Apartment lending took off last year at the Federal Home Loan Mortgage Corp., with the volume of multifamily activity leaping by nearly a third. Delinquency also improved.

Ally Struggles With Mortgage Ops
Losses from mortgage operations took a big bite out of Ally Financial Inc.'searnings. Still, the lender managed to increase quarterly originations and keep delinquency from rising.

Shrinking Pool of Reverse Lenders Lift Originations
The number of companies originating federally insured reverse mortgages may have fallen by more than half compared to a year ago, but the remaining pool managed to increase business last month.

Keeping Mortgage Profits in the Family
A firm that is a little more than a year old is boasting about its growing production of mortgages financed by family members.

Freddie Issuances Surge
The Federal Home Loan Mortgage Corp. gave a stunning performance in the first month of 2012 with issuance soaring 51 percent. While the Government National Mortgage Association also saw a gain, securitizations dropped by nearly a quarter at the Federal National Mortgage Association.

Fannie Outperforming Freddie by a Long Shot
For five consecutive months now, Fannie Mae has managed to increase its secondary activity, contrasting last month's activity at rival Freddie Mac. Annual business, however, was lower at both firms. Fannie's residential delinquency didn't increase a single time last year, while late payments at Freddie have deteriorated each of the last several months.

Mortgage Insurer Runoff Continues
Loans outstanding that are insured by private mortgage firms have been on the decline every month for three years now as new policies issued were down 15 percent last year. Looking at just last month, outstandings were off from November, and defaults on insured loans jumped.

FHA, Jumbo & Purchase Activity Drive Business Higher Led by an increase in inquiries for purchase financing, government-insured loans and jumbo mortgages -- overall mortgage activity was higher this week. Both jumbo and 15-year loans were priced more competitively in the latest report, and overall mortgage rates are poised to come in lower in the next report.