Tag Archives: Mortgage Bankers Association

Mortgage applications dipped last as long-term rates reached a five-month high, according to the Mortgage Bankers Association (MBA). MBA's weekly Market Composite Index showed a 6.4 percent drop for the week ending February 8. On an unadjusted basis, the index was down 5 percent. After showing some strength in the previous week, purchase application activity also dropped, falling by an adjusted 10 percent (or an unadjusted 4 percent). Year-over-year, however, volume was still up 15 percent.

Two U.S. senators reintroduced legislation designed to open up competition and limit barriers to refinance for qualified homeowners.

Mortgage applications saw a slight bump in the recent holiday week, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The survey's Market Composite Index, a measure of mortgage loan application volume, increased 3.4 percent on a seasonally adjusted basis for the week ending February 1. Capital Economics also issued its data for mortgage application activity throughout January, observing that application volume for purchase loans was the strongest it's been in a year and a half.

Commercial and multifamily originations increased 24 percent from 2011 to 2012, according to the Mortgage Bankers Association.

Mortgage applications declined for the week ending January 25, according to application data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The survey's Market Composite Index, a measure of application volume, decreased 8.1 percent week-over-week on a seasonally adjusted basis, the association reported. The results include an adjustment for the Martin Luther King holiday. After reaching a two and a half year high last week, purchase applications also dipped.

Applications for purchase loans reached their highest level since 2010 last week, the Mortgage Bankers Association (MBA) reported Wednesday. The group's Weekly Mortgage Applications Survey for the week ending January 18 showed overall application volume was up a seasonally adjusted 7 percent from the prior week. On an unadjusted basis, application volume was up about 8 percent. The rise in applications comes despite a slight rise in interest rates.

Washington may have (arguably) successfully avoided 2013's budgetary landmines so far, but the Mortgage Bankers Association (MBA) reports everything it has seen so far suggests economic growth will be modest in 2013. In its most recent Economic and Mortgage Finance Commentary, the association forecasts slow economic gains in the first half of 2013 "as the effects of the payroll tax increase and the spending cuts from sequestration or a similar decline in government spending kicks in."

A week after releasing its "qualified mortgage" guidelines, the CFPB is issuing more rules designed to clean up servicing practices.

Mortgage applications continue to perk up after ending 2012 on a low note, according to data from the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey. The Market Composite Index, a measure of application volume, increased 15.2 percent on a seasonally adjusted basis in the week ending January 11. On an unadjusted basis, the index was up 45 percent from the prior week. Purchase activity continued strong, with the Purchase Index rising 13 percent to its highest level since April 2011.

After many long months of waiting, the Consumer Financial Protection Bureau (CFPB) has finally issued its finalized "qualified mortgage" (QM) rule designed to protect both consumers and responsible lenders. One of the biggest provisions of the QM rule is the newly set Ability-to-Repay rule, which does away with so-called "no doc" and "low doc" mortgages. In addition, the CFPB explained there are two kinds of QMs that have different protective features for consumers and legal consequences for lenders.