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Bank statement underwriting, often applied in situations where the borrower is self-employed, accounted for the plurality of documentation types in the pool, at 44.9%.
Delinquencies also showed signs of overall improvement in March, despite an increase in foreclosure numbers, ICE Mortgage Technology said.
This week the conforming 30-year fixed rate mortgage fell 10 basis points, with Optimal Blue data showing it broke through, at least briefly, the 6% level.
A pickup in refinances was offset by the first pullback in purchases in four weeks in the run-up to Labor Day, according to the Mortgage Bankers Association.
The increase in purchase volume was not enough to offset the drop in refinance application submissions as conventional rates increased week-over-week.
