Tag Archives: Mortgage Bankers Association

The Mortgage Bankers Association's (MBA) Builder Application Survey tumbled 9 percent month-over-month in August, according to the latest from the group. The anticipated decline follows a 2.4 percent drop in July new home sales as reported by the Commerce Department. According to initial estimates from the government, sales that month were at an adjusted annual pace of 412,000.

Applications for mortgage loans took a hard drop in September's first week, ending at their lowest level in nearly 14 years, according to a report from the Mortgage Bankers Association (MBA). MBA's Weekly Mortgage Applications Survey showed loan applications fell 7.2 percent for the week ending September 5, declining to the lowest level since December 2000. The week's results include seasonal adjustments and an adjustment for the Labor Day holiday.

Profits at independent mortgage banks nationwide jumped from the first quarter to the second as loan production spiked, according to a trend report from business advisory firm Richey May & Co. "Independent mortgage bankers' unit volume, expenses and margins were very close to those they experienced in the third quarter of 2013," said Keith May, managing director of advisory services at Richey May.

MBA's Mortgage Credit Availability Index (MCAI), a gauge of credit access based on borrower profiles and underwriting criteria at lenders nationwide, slipped to 116.1 last month from 116.4 in July, the group reported. A decline indicates tighter standards overall in the market. Both the conventional lending and government-focused indices edged down as well, each declining less than a percentage point from July.

Based on weekly data released by the Mortgage Bankers Association (MBA), macroeconomics firm Capital Economics calculated a 0.4 percent monthly decline in mortgage applications in August. It was the third drop in the last three months, following declines of 0.1 percent in June and 3.4 percent in July.

Applications for mortgage loans increased last week, helped along by gains in both purchase and refinance loans. The Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey shows loan application volumes rose a seasonally adjusted 2.8 percent for the week ending August 22, doubling the rate of growth recorded the previous week.

The Mortgage Bankers Association (MBA) reported Tuesday that independent mortgage banks and mortgage subsidiaries of chartered banks posted a net profit of $954 on each loan originated in the year's second quarter. The report represents a significant turnaround from the first quarter, when mortgage banks took a net loss of $194 for each loan.

In a release on Monday, the Commerce Department estimated new home sales last month were at a seasonally adjusted annual pace of 412,000, a decline of 2.4 percent month-over-month. June sales received a slight upward revision to a rate of 422,000, while May sales were also bumped up in a second revision to 454,000—still far below the 504,000 originally reported by the government.

The Mortgage Bankers Association (MBA) reported a 1.4 percent seasonally adjusted bump in application volumes for the week ending August 15, a partial reversal from the 2.7 percent decline reported the week prior. While last week's results were lifted by improvement in applications for conventional mortgages, they were also weighed down by a 5.9 percent decrease in applications for government mortgages.

Despite a slight easing in credit standards, the percentage of loan applications closed in July slipped to a three-month low, Ellie Mae reported Wednesday in its monthly Origination Insight Report. Tracking loan applications initiated 90 days prior, the company calculated an overall closing rate of 57.7 percent last month, down from 60.7 percent in June and 57.8 percent in May.