Foreclosures | Mortgages | Financing
Non-agency mortgage securitization volume accelerated during the final-three months of last year, with jumbo activity leading the way.
During all of last year, U.S. residential loan originations amounted to $1.89 trillion. Production picked up from $1.68 trillion in 2015.
Last year’s mortgage lending activity included $0.99 trillion in loans to finance a home purchase and $0.90 trillion in refinance production.
From:: Financing
The first month of this year was a good one for home-loan performance, with delinquency and foreclosures retreating.
U.S. mortgages that were at least 30 days past due or in the foreclosure inventory numbered 2.643 million as of Jan. 31.
That turned out to be the lowest number of residential loans that were classified as non-current since August 2006.
From:: Financing
As has been the case for many lenders, quarterly originations slipped at Caliber Home Loans Inc. But servicing and staffing expanded.
As of year-end 2016, the Irving, Texas-based firm serviced 403,751 mortgages with an aggregate unpaid principal balance of $91.065 billion.
That was according to data provided by Caliber as part of the Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.
From:: Financing
Last month, the annual rate of pre-owned residential home sales accelerated from the final month of last year. The improvement was led by sales in the West.
There were 320,000 existing home sales — including single family homes, townhomes, condominiums and co-operatives — closed in the first month of this year.
Home sales sank when compared to 437,000 units sold during December 2016. But the number of closings was greater than 302,000 during January 2015.
From:: Financing
A weekly decline was recorded for new mortgage applications. Purchase financing activity was out front of the slowdown.
The Market Composite Index for the week ended Feb. 17 was down a seasonally adjusted 2 percent from one week previous.
When no adjustments are made for seasonal factors, the index, a measure of retail loan applications, moved down 1 percent .
From:: Financing
Fairway Independent Mortgage Corp. experienced a year-over-year expansion in its home-lending volume, servicing portfolio and employee count.
The Sun Prairie, Wisconsin-based organization serviced 20,969 residential loans with an unpaid principal balance of $4.420 billion as of Dec. 31, 2016.
Those details, along with other operational data, were presented as part of the Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.
From:: Financing
The expected volume of lending to finance home purchases next year has been lowered, as was the estimate for last year’s production.
From Jan. 1 through March 31, total mortgage originations — including purchases and refinances — are projected to reach $351 billion.
Residential loan production is then expected to climb to $431 billion in the second quarter then retreat to $418 billion three months later.
From:: Financing
Although overall loan modification volume was down in 2016, an increase was recorded for the government-supported program.
Last year, residential servicers were successful at modifying a total of 373,630 U.S. mortgages on behalf of distressed borrowers.
But activity retreated compared to 2015, when the number of borrowers whose home loans were modified amounted to 419,053.
From:: Financing
Driven by the government-sponsored enterprises, multifamily lending rose last year, as did office loan originations. But issuance of commercial mortgage-backed securities tumbled.
In the fourth-quarter 2016, commercial mortgage originations came to approximately $153 billion, accelerating from around $128 billion in the previous three-month period.
Commercial real estate loan production, however, descended compared to the fourth quarter of 2015, when CRE lenders made a total of $164 billion in new mortgages.
From:: Financing
The volume of refinances expected by the country’s mortgage bankers during the first-three months of this year has increased.
Total mortgage originations, including purchase financing and refinancing, is projected to reach $352 billion during the first quarter.
U.S. production is then expected to jump to $430 billion three months later and $437 billion during the third quarter of this year.
From:: Financing