Tag Archives: Mortgage Applications

Plummeting refinance applications crimped Federal Housing Administration mortgage loan applications over June, according to a report issued by the federal agency, with total volume falling 22 percent less than volume at the same time last year. The FHA attributed the plunge to a 50 percent decline in year-over-year numbers for refinance applications. Data from June last year suggests a sharp decline in refinance loan applications, which dropped from 69,876 to 35,367 last month.

As reflected by a weekly survey released Wednesday by the Mortgage Bankers Association, the number of mortgage applications filed by homebuyers declined 5.0 percent from the previous week. The survey showed a dip by 5.0 percent in mortgage loan application volume, as measured by the Market Composite Index, with a corresponding 4.9 percent decline on an unadjusted basis from the week ending July 22. The Weekly Mortgage Applications Survey reviews half of all residential mortgage applications.

On Wednesday the Mortgage Bankers Association released its weekly survey, showing jumps in mortgage applications by 15.5 percent and by 23.1 percent in refinances, respectively, from the previous week. According to the survey, mortgage loan application volume went up over 15 percent on a seasonally adjusted basis, with a steady increase by 43 percent. According to the survey, mortgage loan application volume went up over 15 percent on a seasonally adjusted basis, with a steady increase by 43.9 percent on an unadjusted basis from the week earlier.

Texas company Guardian Mortgage Lenders has been honored in its home state for the second consecutive year. Four of Guardian├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós originators were recently named among top mortgage professionals in D Magazine├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós annual list. Loan officers Lynn Hood, Rick Hodges, Marcus McCue, and David Stout ranked in the publication├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós standings, which are nominated and judged by a panel comprised of D Magazine Top DFW Realtors and other residential real estate professionals in the region.

ProTeck Valuation Services and American Mortgage Consultants are teaming up to deliver advanced real estate tools, and ProTeck will now provide real estate valuation and reconciliation via AMC.

The numbers are in, and New York tops the list of states boasting the highest mortgage closing costs nationwide. The results of the Bankrate, Inc. survey demonstrate New York├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós dubious dominance in closing fees for the second straight year. Other high-cost areas rounding out the top five? Texas, Utah, San Francisco, and Idaho. Nationally, the total cost of origination and title fees has risen since last year by 8.8 percent, to an average cost of $4,070 on a $200,000 mortgage.

A monthly update from Capital Economics holds that small upticks in home prices and sales reflect anomalous behavior in the market, thanks in part to a generous seasonal uplift. The report predicts continued falls in home sales.

In a statement, TD Bank announced the creation of a step-by-step kit that it dubs the First Time Homebuyer Kit, a program that will guide first-time homebuyers through the homeownership process.

Wary of an uncertain economic climate, new regulatory legislation, and the potential for burdensome capital restrictions, the nation's top lenders financed fewer mortgage loans in 2010 than in 2009 to keep their ledgers in the black a cumulative pattern that analysts and news reports say hampers housing and, potentially, recovery in the broader economy. According to analysis conducted by The Wall Street Journal, the 10 largest mortgage lenders in the country denied 26.8 percent of loan applications last year, up from 23.5 percent in 2009.

With total U.S. debt soaring past $14 billion in May and negotiations over a controversial ceiling raise splintering at the highest levels, analysts worry that the Federal Housing Administration may shut down if the federal government defaults on August 2 -- a crisis scenario that would wreak havoc in housing markets, tightening the credit supply and spoiling a recovery. Analysts suggest that a default by the government would unfairly and adversely impact minority homeowners.