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Tag Archives: Mortgage Applications

Mortgage Apps Experience Steeper Decline

After seeing their first notable drop of the year in February’s first week, mortgage applications continued to slide down a slipperier slope approaching the middle of the month, the Mortgage Bankers Association (MBA) reported. According to MBA’s Weekly Mortgage Applications Survey, loan application volume dropped 4.1 percent on a seasonally adjusted basis for the week ending February 14. Unadjusted, the index was down a smaller 2 percent.

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Application Numbers Slightly Up in January, Future Looks Hazy

Using weekly stats published by the Mortgage Bankers Association (MBA), Capital Economics calculated a 2.5 percent increase in applications last month, turning the trend around from an 18.2 percent decline in December and a 1.3 percent drop in November. With the refinance boom in the rearview, Capital Economics shifted its focus to purchase applications, which rose 3.1 percent in January. As for future movements, the firm's outlook paints an unclear picture.

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Report: Majority of Lenders Putting Financial Data at Risk

As companies like Target and Michaels Stores continue to take a drubbing over high-profile data breaches, a report from cybersecurity firm HALOCK Security Labs suggests mortgage lenders may not be doing enough to protect applicants' sensitive financial data. After investigating practices at 63 lenders of varying size, HALOCK found more than 45 companies (70 percent) permitted applicants to send personal and financial information through unencrypted email attachments.

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Mortgage Applications Steady in Latest Survey

Mortgage application volume remained essentially flat last week, with refinance and purchase loan numbers canceling each other out, the Mortgage Bankers Association (MBA) reported Wednesday. According to MBA's Weekly Mortgage Application Survey, loan application volume fell a scant 0.2 percent (seasonally adjusted) for the week ending January 24. The results include an adjustment to account for the Martin Luther King, Jr. holiday, on which markets were closed. Unadjusted, applications fell 9 percent week-over-week.

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Suspect Mortgage Applications on the Rise

As if this month's regulatory changes weren't enough, lenders have another problem to grapple with: According to stats released by Kroll Factual Data, incidents of potential mortgage fraud are on the rise. Between the second and third quarters of 2013, the company recorded a 10.4 percent average increase in "possible fraudulent activity" in loan applications submitted for review. "The call for increased vigilance and processes for mitigating this risk is at a pitch not to be discounted or ignored," said Kroll president Rod Bazzani.

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Refinances Push Up Application Volume


According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey, loan application volume rose 4.7 percent (seasonally adjusted) for the week ending January 17. The overall increase came entirely from a continued recovery in refinance numbers. The survey's Refinance Index was up 10 percent week-over-week, with refinance share accounting for 64 percent of total applications, the highest level in a month. Meanwhile, the seasonally adjusted Purchase Index dropped 4 percent compared to the prior week.

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MBA Data Points to Decline in December New Home Sales

The latest builder application data from the Mortgage Bankers Association (MBA) suggest new home sales numbers came in below average for December. MBA's latest Builder Application Survey, a measure of application volume from mortgage subsidiaries of homebuilders, shows applications for new home purchases dropped 11 percent from November to December (unadjusted). Unadjusted, MBA estimates the month saw 28,000 new home sales.

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Mortgage Banking Suffers at Wells, JPMorgan

This season's bank releases kicked off Tuesday with dual quarterly earnings reports from JPMorgan Chase and Wells Fargo--and as projected, weakened origination figures took their toll. JPMorgan's fourth-quarter income came to nearly $5.3 billion, a recovery from the third quarter's losses but a weak showing compared to the prior year's $5.7 billion. Meanwhile, Wells Fargo reported fourth-quarter profits of $5.6 billion, a 10 percent improvement over the same quarter last year.

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