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Author Archives: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

Survey: Support Trumps Salary in Loan Officer Retention

Mortgage bankers group Lenders One released Tuesday the results of new study on loan officer retention conducted by Majestic Consulting. According to the results, most loan officers would be willing to leave a higher-paying position if they feel management at another company has a better grasp on fulfillment and business development.

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Mortgage Credit Loosens in July Index

The Mortgage Bankers Association (MBA) reported a 0.5 percent increase in its Mortgage Credit Availability Index (MCAI) for the month of July, putting the index at 116.4. According to the group, the main force behind the increase was a rise in the number of jumbo adjustable-rate mortgage (ARM) programs. Also contributing to the pickup was an increase in availability of high-balance FHA and VA loan programs.

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Texas Housing Gains Momentum as Inventory Increases

The Texas Association of Realtors released Friday its 2014-Q2 Texas Quarterly Housing Report, revealing a 5.9 percent quarterly pickup in home inventory to a months' supply of 3.60—level with where supply figures were at the end of 2013. Despite the quarter-over-quarter increase—the first since 2011, the association reports—inventory remained down 12.2 percent compared to a year ago, holding back growth in home sales.

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July Originations Pick Up, but Will It Last?

Based on data from Bloomberg, investment bank FBR Capital Markets estimates issuance of mortgage-backed securities (MBS) last month came to approximately $90 billion, marking a "significant improvement" from June and May. However, year-to-date originations are at approximately $633 billion, and with the historically stronger summer months done, FBR expects "the strong pace set in July could slow materially in August, September, and beyond."

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Mortgage Closing Costs Up 6% as Fees Climb

According to data from finance site Bankrate.com, closing costs in 2014 are up 6 percent over last year, rising to an average $2,539 on a $200,000 loan (assuming a 20 percent down payment). "New mortgage regulations are the biggest reasons why closing costs went up over the past year," said Holden Lewis, senior mortgage analyst for Bankrate. "The good news is that some lenders have not increased fees."

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