Freddie Mac's total book of business decreased at an annualized rate of 2 percent in November compared to an annualized rate of 6.4 percent in October, according to the GSE's latest monthly volume report.
Read More »Refinance Challenges Expected for CRE Segments
In the years leading up to the economic downturn, lenders became more aggressive and eased requirements in order to increase volume and satisfy investor demand for securitized commercial real estate products. Loans originated in 2004 and 2005 generally had a lower loan-to-value (LTV) ratio than those originated in 2006 and 2007. Since the majority of these loans have ten year terms, the 2004 through 2007 loans will come due in the next three years.
Read More »Refinance Share Rebounds in November
A slight decline in mortgage rates spurred refinance activity up in November, Ellie Mae revealed in its latest monthly Origination Insights Report.
Read More »Mortgage Applications Index Drops to 12-Year Low
The Mortgage Bankers Association (MBA) reported a 5.5 percent decline (seasonally adjusted) in loan applications for the week ending December 13. On an unadjusted basis, MBA's Market Composite Index was down 6 percent. According to Mike Fratantoni, MBA's VP of research and economics, the latest index is the lowest it's been in more than 12 years. "Both purchase and refinance applications fell as interest rates increased going into today's Federal Open Market Committee meeting," Fratantoni explained.
Read More »Mortgage Applications Pick Up Following Thanksgiving
Mortgage applications recovered slightly during the first week of December, the Mortgage Bankers Association (MBA) reported. MBA's Weekly Mortgage Applications Survey showed a 1.0 percent increase in loan application volume (seasonally adjusted) for the week ending December 6. The previous survey's results had included an adjustment for the Thanksgiving holiday. Unadjusted, the index increased 43 percent. As applications rose, so did mortgage rates.
Read More »Freddie Mac’s Mortgage Portfolio Shrinks at Fastest Rate This Year
Freddie Mac's mortgage book of business declined at an annualized rate of 6.4 percent in October, marking the fourth consecutive month of declines.
Read More »Following October Bump, Mortgage Applications Resume Trend
Using weekly application numbers released by the Mortgage Bankers Association (MBA), economic analysis firm Capital Economics calculated a 1.3 percent decrease in total applications for November.
Read More »Servicing Gains Offset Production Declines in Q3
Mortgage loan production suffered among independent mortgage bankers throughout the third quarter--but servicing revenues are helping to ease the pain for those with portfolios, Richey May revealed in its latest quarterly report. Overall, net income declined 60 basis points from the second quarter, though a 0.07 percent increase in the average value of servicing portfolios helped offset losses at those with servicing interests, Richey May reported.
Read More »Mortgage Applications Experience Slight Decline
Last week saw another drop in mortgage application volume, the Mortgage Bankers Association (MBA) reported in its Weekly Applications Survey. MBA's Market Composite Index, a measure of mortgage loan application volume, fell a seasonally adjusted 0.3 percent the week ending November 22, the group reported. It was the fourth straight week of decreases in loan application activity. On an unadjusted basis, the index declined 9 percent week-over-week.
Read More »October Purchase Loan Share Crosses 60% Line
According to Ellie Mae's data, which draws from a sampling of the loan applications flowing through the company's network, purchase loan share was 61 percent in October.
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