Expected 1st Half Originations Upped
Thanks to a stronger refinance outlook, more business is expected during the first six months of 2012 than was forecast last month.

Residential lenders are expected to originate $340 billion during the first quarter, Freddie said in its monthly housing forecast.

In January, the secondary lender predicted that just $300 billion would be closed in the first quarter.
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Mortgage Bankers Raise Origination Outlook
Home lenders cut their outlook for the volume of home purchases expected to be financed this year. But an increase in projected refinance production was enough to push the overall forecast higher.

Quarterly Production Outlook Lifted
A key outlook for home-loan originations during the first three months of 2012 was raised, though business is expected to fall for the rest of the year. There is no end in sight for continued contraction in the country's collective outstanding mortgages.

Home Purchase Financing Picks Up More people inquired about a mortgage to finance a home purchase this week, as was the case for government mortgages. Strength in the two categories was enough to drive overall activity higher. But inquiries for refinances, adjustable-rate mortgages and jumbo mortgages all declined.

Business Slows in Super Bowl Week Hurt by weakened refinance activity, fewer mortgage inquiries were made during Super Bowl week. But refinance inquiries were well above the level a year ago. Purchase activity slipped from last week and was off more than a third from a year earlier.

Government Share of Mortgage Market Falls
Residential loan originations fell in 2011, and some lenders saw more of a decline than others -- though a few firms eked out a gain. The government's role in residential finance was reduced last year as private capital crept back into the market. Half of all the U.S. mortgage market last year was controlled by three lenders.

Some CRE Lenders See Strength
The origination of commercial real estate loans was higher at several firms last year, and much of the strength came from multifamily production. One firm reported that annual volume more than doubled.

Some Lenders Lift Business Despite Industry Slowdown
Although residential originations for the industry as a whole were down around 15 percent last year, gains were made by a lender that is exiting the mortgage business and a growing Oklahoma firm. Quarterly activity at the nation's credit unions reached the second-highest level ever.