SunTrust's Mortgage Income, Originations Drop
Home lending and mortgage earnings weakened from a year ago at SunTrust Banks Inc., though earnings improved on a quarter-over-quarter basis. Delinquency deteriorated.
Apartment Lending Sets Another Record
After ascending to the highest level on record in 2015, apartment lending activity again established a new record last year.
BB&T Mortgage Lending, Income Sink from Yr Earlier
Quarterly mortgage earnings and originations significantly deteriorated from a year earlier at BB&T Corp., while mortgage delinquency worsened from the previous period.
Conventional Share Widens w/Refis, Though Off YoY
As refinance share widened last month, so did conventional share -- though it has diminished over the past year. Turnaround and closing rates both deteriorated.
MGIC Earnings Leap as Delinquency Sinks
Quarterly earnings at MGIC Investment Corp. soared on a year-over-year basis, while new business improved on a quarter-over-quarter basis. Delinquency sank.
US Bank Mortgage Income, Lending Down from Yr Ago
While quarterly mortgage earnings and originations held up from the prior period at U.S. Bancorp, both retreated from a year ago. Residential holdings expanded, though.
Weekly Mortgage Application Volume Increases
Prospective borrowers were busier during the holiday week completing applications for a new mortgage. Both refinancing and purchase financing activity accelerated.
5-Month High for GSE Refinances
The volume of government-sponsored enterprise loans that were refinanced ascended to the highest level in five months -- though government supported refinances remain weak.
Mortgage Origination Outlook Boosted By $249 Bil
The latest forecast for overall residential loan production this year and next year has been beefed up by nearly $250 billion. But last year's estimate of purchase financing was cut.