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Tag Archives: Mortgage Applications

Mortgage Fraud Risk Down 5.6% in Q2

Fraud

CoreLogic released Wednesday its quarterly Mortgage Fraud Report, which measures overall fraud activity based on the company's Mortgage Application Fraud Risk Index. According to CoreLogic's data, fraud risk among mortgage applications declined 5.6 percent year-over-year in Q2, with approximately 19,700 of mortgage applications being flagged as having a high risk of fraud. In Q2 2012, the company identified 20,900 high-risk applications, which represented about 0.7 percent of all applications tracked.

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Mortgage Applications Increase as Interest Rates Slide

Mortgage application activity increased for the second straight week in September while mortgage interest rates continued to ease, the Mortgage Bankers Association (MBA) reported in its Weekly Mortgage Applications Survey. The survey's Market Composite Index increased 5.5 percent on a seasonally adjusted basis for the week ending September 20. On an unadjusted basis, the index increased an even 5 percent week-over-week. Purchase activity was strong, with that index climbing 7 percent (seasonally adjusted) from the week prior.

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Mortgage Applications Pick Up as Interest Rates Come Down

A slight decline in interest rates helped boost mortgage application volume last week, the Mortgage Bankers Association (MBA) reported Wednesday in its Weekly Mortgage Applications Survey. The survey's Market Composite Index, a measure of loan application volume, increased 11.2 percent on a seasonally adjusted basis for the week ending September 13. The weekly improvement was aided in part by a rebound in refinance activity, which increased 18 percent from the previous week.

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New Home Purchase Applications Down in August

Data from the Mortgage Bankers Association (MBA) for August shows mortgage applications for new home purchases declined compared to July. According to MBA's monthly Builder Application Survey (BAS), loan applications for the purchase of new homes fell 14 percent month-over-month in August. Taking information from the BAS--as well as assumptions regarding market coverage and other factors--MBA estimates sales of new single-family homes ran at a seasonally adjusted annual rate of 424,000 in August.

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Despite Decline in Fraud Levels, Some States Still Suffer

Fraud

In its 15th Annual Mortgage Fraud Report, LexisNexis Risk Solutions put a spotlight on three economic indicators: mortgage fraud and misrepresentation involving industry professionals, potential collusion activity, and volume of properties in default. Looking at mortgage loan fraud levels, researchers at LexisNexis determined that most states have seen fraud fall to normal levels since 2008, though the fallout from prior years continues to build.

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Mortgage Applications Fall as Refinance Volume Crashes

Mortgage refinance applications went into free-fall last week as interest rates came back up, according to data in the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The survey's Market Composite Index, a measure of loan application volume, dropped 13.5 percent on a seasonally adjusted basis for the week ending September 6. The Refinance Index fell 20 percent week-over-week, bringing it to its lowest level since June 2009.

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Low Refinance Activity Brings Down Application Volume

Mortgage application volume dropped 4.6 percent for the week ending August 16, the Mortgage Bankers Association (MBA) reported in its Weekly Mortgage Applications Survey. Refinances took a major tumble, with the Refinance Index seeing an 8 percent week-over-week decline. According to the association, the index has dropped 62.1 percent from the recent peak reached during the week ending May 3. The refinance share of total mortgage activity, meanwhile, fell to 62 percent from 63 percent the week prior.

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