Weekly Mortgage Market Index Tumbles During Holidays
DALLAS -- (Dec. 31, 2012) With the holiday season in full swing, loan originators did very little business last week. Leading a big weekly decline were jumbo and adjustable-rate mortgages.
Mortgage Market Index Falls as Jumbo Leads Holiday Decline
DALLAS -- (Dec. 26, 2012) As the mortgage industry prepared to celebrate the holidays, new business declined. Jumbo activity took the biggest hit, though refinances weren't far behind. Mortgage rates, meanwhile, moved higher.
Refis, Conventional Activity Lead Weekly Mortgage Market Index Lower
DALLAS -- (Dec. 17, 2012) With Christmas fast approaching, loan originators had rate locks on fewer loans last week. Refinance activity had the biggest effect on weekly activity, though conventional locks also significantly impacted the index.
ARM, Jumbo Inquiries Lead Rise in Weekly Mortgage Market Index
DALLAS -- (Dec. 10, 2012) A surge in inquiries for adjustable-rate mortgages led overall mortgage activity higher last week. Jumbo business also contributed to the improvement.
Refis Lead Post-Holiday Resurgence in Weekly Mortgage Market Index
DALLAS -- (Dec. 3, 2012) Rates edged higher last week, but that wasn't enough to stop new mortgage activity from increasing after the Thanksgiving holiday. Refinances led the improvement, though all categories surged.
NY, CA Trade Top Spots in Mortgage Fraud Index
DALLAS -- (Dec. 3, 2012) /PRNewswire/ The Mortgage Fraud Index was lower, reflecting falling caseloads. But the dollar amount has climbed more than a quarter over the past year. California and New York traded the top-two positions.
Weekly Mortgage Market Index Sinks Ahead of Holiday
DALLAS -- (Nov. 26, 2012) Mortgage rates slipped last week, but that wasn't enough to push business higher ahead of the Thanksgiving holiday. Refinances were hit especially hard.
Mortgage Employment Index Up 5 Straight Quarters
DALLAS -- (Nov. 26, 2012) /PRNewswire/ While some of the biggest lenders eliminated thousands of jobs, hirings at other firms helped push the third-quarter 2012 Mortgage Employment Index from Mortgage Daily higher. Nearly half of the gain was attributable to hirings in Michigan.
Weekly Mortgage Market Index Slumps
DALLAS -- (Nov. 19, 2012) Already low interest rates found room to fall further last week, but the decline wasn't enough to overcome a holiday week slump that had new business slower. Leading overall activity down was financing for home purchases.
Weekly Mortgage Market Index Rises as Rates Fall
DALLAS -- (Nov. 12, 2012) Rates improved and pushed weekly mortgage activity higher. Refinances were a big beneficiary of falling interest rates, but it was jumbo activity that had the best improvement.
Biggest Mortgage Servicers and Lenders
DALLAS -- (Nov. 12, 2012) /PRNewswire/ Market share was a little less concentrated at the top during the third quarter, according to Mortgage Daily's mortgage lender ranking. Business improved from the second quarter and looks likely to hold through yearend. The servicing landscape is undergoing a transformation.
ARMs, Jumbo Inquiries Lead Decline in Weekly Mortgage Market Index
DALLAS -- (Nov. 5, 2012) As Northeast recovery efforts began, weekly mortgage business tumbled. Not even continued low interest rates could lift new activity. Hardest hit were inquiries for jumbo and adjustable-rate mortgages.
Weekly Mortgage Market Index Lower Despite Uptick in FHA, Purchase Activity
DALLAS -- (Oct. 29, 2012) Led by a decline in new jumbo business, overall mortgage activity slumped last week. But inquiries for purchase financing, government-insured loans and adjustable-rate mortgages strengthened.
Home Purchase Activity Rises in Weekly Mortgage Market Index
DALLAS -- (Oct. 22, 2012) As signs of a housing recovery are beginning to emerge, more borrowers were out shopping for a loan to finance a home purchase this past week -- leading overall activity slightly higher. Most other categories put in a lackluster performance. Despite improved jumbo spreads this week, fewer jumbo shoppers were out.
Weekly Mortgage Market Index Falls on Rates
DALLAS -- (Oct. 15, 2012) As mortgage rates inched higher last week, new mortgage activity drifted lower -- with jumbo business taking the biggest hit. Spreads improved for jumbo and shorter-term mortgages. Inquiries for government-insured loans fared the best.
Refinance Inquiries Jump in Weekly Mortgage Market Index
DALLAS -- (Oct. 1, 2012) Inquiries for residential refinances leapt last week as consumers were motivated to take advantage of the lowest mortgage rates on record. The surge was even stronger for jumbo loans.
Sustained Drop in Bank Failures Behind Fewer Mortgage Casualties
DALLAS -- (Oct. 1, 2012) /PRNewswire/ This year is on pace to see fewer mortgage-related closings and failures than any since the subprime crisis erupted. Bank failures, which have fallen each of the past four quarters, supported the latest improvement. Mortgage brokers lost access to more wholesale lenders.
Refis Drag Down Weekly Mortgage Market Index
DALLAS -- (Sept. 24, 2012) As mortgage rates dove to near record-low levels, refinance shoppers were out in droves. Conventional and adjustable-rate activity were both higher, but demand for purchase financing retreated.
Mortgage Litigation Index Eases
DALLAS -- (Sept. 24, 2012) /PRNewswire/ Lawyers acting on behalf of mortgage industry stakeholders slowed legal activity during the first quarter -- a period that included an historic servicer settlement. But some categories -- including compliance, loan titles and whistleblower actions -- were busier. Most categories were significantly elevated versus a year earlier.
Weekly Mortgage Market Index Jumps Coming Out of Holiday Week
DALLAS -- (Sept. 18, 2012) New mortgage activity jumped more than 20 percent coming out of the holiday week. The biggest bounce was with pricing inquiries for jumbo loans.
Jumbo Lending Leads Decline in Weekly Mortgage Market Index
DALLAS -- (Sept. 10, 2012) Consumers abandoned the mortgage market for the Labor Day holiday, with jumbo borrowers leading the way despite a decline in the premium for a jumbo loan. The share of activity represented by adjustable-rate mortgages continued to diminish and has plummeted nearly three quarters over the past year.
Weekly Mortgage Market Index Lower on FHA Business
DALLAS -- (Sept. 4, 2012) As prospective borrowers settled into a long weekend, inquiries for government-insured loans and purchase financing took the biggest hit. Not even low mortgage rates could halt the overall holiday slowdown. Jumbo mortgage inquiries, however, picked up.
Mortgage Employment Index Gains in Q2
DALLAS -- (Sept. 4, 2012) /PRNewswire/ Layoffs grew and hirings softened, according to the Second-Quarter 2012 Mortgage Employment Index from Mortgage Daily. Still, mortgage firms managed another quarterly gain in staffing. Texas was pounded with layoffs but able to absorb displaced workers and come out with a gain. Mortgage jobs are pouring out of New Jersey and into Michigan.
ARM Activity Evaporates in Weekly Mortgage Market Index Report
DALLAS -- (Aug. 27, 2012) Last week's mortgage market maintained a little more momentum than the previous week. All categories but one -- adjustable-rate mortgage activity -- saw a modest increase. Overall business slowed by more than a quarter compared to the same time last year, and ARMs saw the most deterioration.
Appraisals, Dodd-Frank at Forefront of Loan Originator Concerns
DALLAS -- (Aug. 20, 2012) The real estate appraisal process is among the most frustrating issues for mortgage loan originators, according to initial responses from the 2012 Loan Originator Survey being conducted by Mortgage Daily. Also having a big impact is the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Personal computers used by originators are dominated by one technology giant, while smart phones are dominated by a rival.
Weekly Mortgage Market Index Falls as Family Focus Shifts to School
DALLAS -- (Aug. 13, 2012) The U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily fell again this week, indicating a dropping demand on the part of consumers for home financing and mortgage refinance.
Biggest U.S. Mortgage Lenders
DALLAS -- (Aug. 13, 2012) /PRNewswire/ Second-quarter mortgage originations jumped 48.7% from a year ago, according to mortgage lender ranking data compiled by Mortgage Daily. Business was up 4.6% from the first quarter.
Cashout, FHA Share Expand in Weekly Mortgage Market Index
DALLAS -- (Aug. 6, 2012) The share of prospective mortgage borrowers who were extracting home equity through a refinance transaction was stronger in the latest week, as was the case for government-insured activity. Overall business remains elevated from a month ago.
Jumbo Business Leads Rise in Weekly Mortgage Market Index
DALLAS -- (July 30, 2012) New mortgage activity inched higher last week with jumbo loans leading the gain. The boost in jumbo business was fueled by a drop in the spread between jumbo and conforming pricing. Demand for government-insured loans and adjustable-rate mortgages, however, turned lower.
Weekly Mortgage Market Index Slips Despite Improved Rates
DALLAS -- (July 23, 2012) New mortgage activity took a dip this week, with inquiries for jumbo mortgages leading the pack. The decline came despite a new low for mortgage rates. But one category -- adjustable-rate mortgages -- actually experienced an uptick.
New Mortgage Activity Jumps
DALLAS -- (July 16, 2012) Thanks to rates that continue to defy prior lows, mortgage activity shot up by nearly half coming out of the holiday week -- with refinances and jumbo activity leading the way.
Holiday Activity Tumbles
DALLAS -- (July 9, 2012) Depressed by the Fourth of July holiday, new loan activity plunged by more than a fifth last week. Adjustable-rate and government mortgages were hardest-hit. Rates reached a new low.
Mortgage Casualties Fall as Fewer Financial Institutions Fail
DALLAS -- (July 9, 2012) /PRNewswire/ The number of mortgage-related businesses to fail or close down during the first six months of this year is down by more than a quarter from the same point in 2011. Despite an increase in mortgage bankers to call it quits, including some high-profile firms, fewer banks and credit unions are failing.
Weekly Mortgage Market Index Pulled Down by FHA Business
DALLAS -- (July 2, 2012) Government-insured mortgage business led an overall decline in new weekly loan inquiries. While refinance business slowed, it still stands at nearly double the level of a year ago.
Florida Worst State in Mortgage Fraud Index
DALLAS -- (June 25, 2012) /PRNewswire/ Although mortgage fraud continues to eat up government resources, the latest data indicate activity is leveling off. But the worst state saw deterioration.
Weekly Mortgage Market Index Lower
DALLAS -- (June 18, 2012) A week after surging by more than a third, new mortgage business dropped. Declining activity was most impacted by inquiries for adjustable-rate mortgages, jumbo loans and refinance transactions.
Purchase Financing Tumbles Despite Plunging Mortgage Rates
DALLAS -- (June 4, 2012) With purchase financing and adjustable-rate business leading the way, mortgage activity dropped during the holiday week. Meanwhile, mortgage rates continued their descent to depths not previously seen and are poised to establish even more new records.
3 Consecutive Quarters of Mortgage Employment Growth
DALLAS -- (May 21, 2012) /PRNewswire/ Mortgage industry staffing has expanded each of the past three quarters, according to the First-Quarter 2012 Mortgage Employment Index from Mortgage Daily.
Originations Slip as Correspondent Lenders Retreat
DALLAS -- (May 7, 2012) /PRNewswire/ First-quarter mortgage closings slowed and could fall further during the current quarter, according to Mortgage Daily's Mortgage Lender Ranking. A third-party retreat at two big lenders hurt business, but another firm sees opportunity in buying loans closed by other companies.
Banks Hold Down Mortgage Casualties
DALLAS -- (April 16, 2012) /PRNewswire/ Thanks to fewer bank failures, mortgage-related casualties fell. If the trend continues, this year's count could land under a hundred for the first time since 2006.
Mortgage Litigation Index Sets New Record
DALLAS -- (April 9, 2012) /PRNewswire/ Foreclosure cases dominated quarterly mortgage litigation activity and show no sign of relenting -- helping to push the Mortgage Litigation Index to an all-time high. Among categories to show the worst deterioration were criminal, servicing and mortgage fraud. But investor actions slowed.
Mortgage Daily Publishes Over 15,000 Pages of News
DALLAS -- (March 6, 2012) Mortgage Daily, a leading online news publication for the mortgage industry, announced that it has published more than 15,000 pages of news.
Biggest U.S. Mortgage Lenders
DALLAS -- (Feb. 9, 2012) /PRNewswire/ Residential originations fell in 2011, and some lenders saw a bigger decline than others, according to MortgageDaily.com's 2011 Mortgage Lender Ranking. The government's role in residential finance was reduced last year.
MBS Actions Drive Mortgage Litigation Index to Record High
DALLAS -- (Jan. 9, 2012) /PRNewswire/ Mortgage lawsuits ascended to the highest level since the Mortgage Litigation Index was first issued for 2007. While foreclosure and investor litigation played a role in the surge, cases involving mortgage-backed securities had the biggest impact.
Mortgage and Bank Failures Fall in 2011
DALLAS -- (Jan. 3, 2012) The U.S. mortgage industry saw a marked decline in business closings last year. Non-bank casualties fell to the lowest level since before the financial crisis, while bank failures fell for the first time in six years. The biggest players in reverse mortgage lending called it quits.