The latest estimate of residential loan originations during the first three months of this year had business slowing from the prior quarter. But business accelerated in Silicon Valley.
First-quarter 2015 mortgage production by all U.S. lenders came in at 1,551,865 home loans that were closed for
$377 billion.
Total loan originations, which include refinancing and purchase financing, declined 1 percent from the fourth quarter of last year.
However, mortgage business improved by nearly a third compared to the first-quarter 2014.
RealtyTrac reported the data based on its analysis of recorded mortgages and deeds of trusts on residential properties.
The Irvine, California-based housing data provider’s estimate of mortgage originations far exceeds other industry forecasts, which range from $288 billion to $330 billion.
