Closing Rate Rises to Recent High
Last month's closing rate for home loans was the lowest since at least 2011. Loan production employees cut the time it takes to close a loan for the second consecutive month.
New Application Form in Works
An updated mortgage application form that is currently in the works promises to provide more industry standardization.
Reverse Mortgage Wholesalers Outperform Retailers
Monthly reverse mortgage volume from wholesale lenders moved higher as retail production slumped. Business exploded at February's busiest reverse lender.
MSRs on Nearly $900 Million in Loans Up for Bid
|Mortgage Biz Jumps as Jumbo Rates Under Conforming
An overall improvement in mortgage rates had refinance inquiries surging more than 20 percent. But the bigger news this week was that interest rates on jumbo mortgages were less than conforming rates.
Mortgage servicing rights on nearly $900 million in agency home loans have been put up for bid.
MBS Issuance Slows to a Trickle at Ginnie
New business had already fallen to the lowest level in nearly six years at the Government National Mortgage Association, but last month it went even lower. Deterioration would have been deeper were it not for an uptick in jumbo and reverse mortgage issuances.
Feedback Sought for New FHA Handbook
Stakeholders have one month to provide feedback on a new policy handbook being proposed for the Federal Housing Administration.
Market Segment Offers Opportunity
Monthly mortgage production fell to the lowest level in more than a decade, but opportunity lurks in one segment of the market. Cash sales have kept real estate sales moving, while foreclosure starts sank due to new rules.