The Mortgage Production Journal
A hard money lender, a commercial real estate lender and even a U.S. government agency all reported record annual mortgage originations. Several lenders claimed the top spots in their respective cities.
Month-Over-Month Mortgage Originations Edge Up
Despite a sharp decline in residential loan originations over the past year, the final month of 2013 saw an uptick. The mortgage market continued to wean itself off of government support.
Mortgages Outstanding Grow
The amount of first mortgages outstanding has been on the rise. But the story is different for home-equity outstandings, which are declining.
Mixed Bag for Large Special Servicers
A state regulator's recent decision to indefinitely halt the sale of mortgage servicing rights to a rapidly growing special servicer could signal a broader regulatory push to moderate the growth of such servicers.
Continued Improvement in Mortgage Performance Metrics
It's been six years since the rate of past-due payments on home loans has been this low, while it's been nearly as long since the foreclosure rate has been this favorable. But on just government-insured mortgages, delinquency moved higher.
HELOC Resurgence In Process
Home-equity lines of credit, which all but disappeared after the credit crisis erupted and home values plummeted, are making a comeback.
2nd Mortgage Performance Deteriorates
As performance on first mortgages has shown a significant improvement from a year ago, serious delinquency on second mortgages has deteriorated -- though it remains well under 1 percent.
Nonprime Share Growing
As mortgage lending slows, borrowers with lower credit scores are accounting for a larger share of new originations.
Bankers See Improved Mortgage Quality Ahead
A significant share of bankers expect the quality of residential and commercial real estate loans to improve in 2014. Although demand for residential products has fallen, stronger demand was noted for commercial mortgages.
HEL Lending Tightens as Banks Loosen CRE Requirements
Among all types of lending at banks, underwriting standards have increased the most on home-equity products. A sizable share of commercial real estate lenders, however, have eased requirements, and CRE risk is projected to rise.