Tag: finance

This year’s and next year’s refinance outlook was raised by more than $200 billion, pushing the overall 2016 forecast to $2 trillion for the first time in four years.

Including mortgage refinances and home purchase financing, residential loan originations during the third-quarter 2016 are expected to come in at $595 billion.

U.S. mortgage production is then projected to fall to $485 billion in the final-three months of this year and $340 billion during the first-three months of next year.

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From:: Financing

Strength in new buyer traffic and optimism in the East helped drive up the level of home builder confidence this month.

A measure of the level of confidence among U.S. home builders, the Housing Market Index, landed at 60 in August.

An index reading of more than 50 is an indication that there are more home builders who view conditions as good than poor.

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From:: Financing

In addition to a pair of C-Suite appointments, recent mortgage executive activity includes a C-Suite firing and mid-level movement.

American Pacific Mortgage has promoted Bill Lowman to chief executive officer from president, a July 29 announcement indicated.

Lowman has been with the Roseville, California-based company since 2002, while he has reportedly been in the business for 30 years.

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From:: Financing

Not only did home-loan production sprint ahead at Movement Mortgage LLC, but the company’s staffing and servicing portfolio expanded.

Residential loans serviced by the Indian Land, South Carolina-based mortgage banker totaled 1,427 units for $0.284 billion as of June 30, 2016.

These details and other operational metrics were provided as part of the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.

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From:: Financing

A huge portfolio of mortgage servicing rights on loans backed by the Government National Mortgage Association has hit the market.

The offering is for MSRs on 13,858 Ginnie Mae residential loans that collectively have an unpaid principal balance of $3.046 billion.

All of the mortgages to be serviced in the bulk portfolio offering are fixed rate, and 100 percent of the loans are in first-lien position.

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From:: Financing

Lake Michigan Credit Union’s real estate finance business expanded — with a quarterly increase in home lending, servicing and staffing reported.

The Grand Rapids, Michigan-based organization’s mortgage servicing portfolio closed out the first-half 2016 at 53,933 loans for $8.325 billion.

That is according to data provided by the credit union in conjunction with the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.

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From:: Financing

A week-over-week decline in new home-lending activity was driven by purchase and conventional financing, though jumbo business also played a role.

The U.S. Mortgage Market Index from OpenClose and Mortgage Daily for the week ended Aug. 12 was 185, retreating 7 percent from a week prior.

But compared to year prior, the index — which is determined based on average per-user rate locks by OpenClose clients — has risen by nearly a third.

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From:: Financing

Bids are being taken for an offering of mortgage servicing rights on more than $1.5 billion in government-sponsored enterprise home loans.

MSRs on 8,820 GSE loans with an aggregate principal balance of $1.525 billion have been put on the market for sale to the highest bidder.

Fannie Mae loans account for $1.216 billion of the loans in the portfolio, while another $0.309 billion are loans backed by rival Freddie Mac.

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From:: Financing

With loans secured by office buildings leading the way, the rate of past-due payments on securitized commercial real estate loans rose last month.

As of July 31, the 30-day delinquency rate on loans that are included in commercial mortgage-backed securities worked out to 2.96 percent.

CMBS loan performance worsened compared to the prior month, with the 30-day delinquency rate climbing 10 basis points from the end of June.

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From:: Financing

Home-loan rates crept higher during this past week on a robust jobs data report, and multiple signs suggest that not much change is likely in the next mortgage rate report.

A 2-basis-point increase from the prior week left 30-year fixed rates averaging 3.45 percent in Freddie Mac’s Primary Mortgage Market Survey for the week ended Aug. 11.

In the report, Freddie Mac Chief Economist Sean Becketti attributed the week-over-week increase in mortgage rates to a strong employment report for the month of July.

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From:: Financing