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Last Updated Wednesday, October 22, 2014 07:30 PM Central


134-Year-Old Bank, Correspondent Lender Done
Among several mortgage-related businesses to recently call it quits was a bank that was 134 years old, three credit unions and a correspondent lender.

Proprietary Reverse Mortgage Originations Slide
Although the monthly origination of government-insured reverse mortgages has fallen, the decline has been more noticeable for proprietary production.

2014-15 Mortgage Origination Outlook Jumps $157 Bil
Expectations for this year's purchase financing expanded by 12 percent, while projections for next year's refinance production increased 14 percent.

Serious 1st Mortgage Delinquency Up Again
Serious delinquency on first mortgages deteriorated for the second consecutive month. Also moving higher was the rate on second mortgages.

2014 High for Home Sales
Retreating mortgage rates and less competition from cash investors helped home buyers purchase more properties last month.

Weekly Refinance Activity Soars
A sharp decline in mortgage rates sent refinance activity into the stratosphere and pushed overall activity to the highest level in more than a year.

Mortgage Market Index 241 for week ended Oct. 17

Multifamily Originations, Outstandings Increase
As mortgage bankers grew the volume of apartment loans originated last year, the amount of multifamily loans outstanding expanded.

Residential Construction Rises
Home construction activity moved higher last month, with the construction of new apartment buildings leading the way.

Mortgage Rates Sink to Lowest Level in Over Year
Volatility in global markets helped drag down long-term fixed rates on home loans to the lowest level in more than a year.

Proprietary Modification Volume Up, HAMPs Slip
An increase in the number of monthly proprietary loan modifications completed more than offset a reduction in the number of government-supported modifications.

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