Higher expenses drive CFBank out of consumer-direct originations
Even though the channel helped the bank do over $2 billion in business last year, going forward it will produce loans through the traditional retail business.
Refinance
What is FHFA’s next move?
Consumer advocates and mortgage industry officials are urging Sandra Thompson, the new acting director of the Federal Housing Finance Agency, to undo many policies that her predecessor, Mark Calabria, put in place over the past year.
Mortgage volume climbs for second week, despite interest rate spikes
Increases in refinances, both in applications and average size, help lead overall numbers higher
Mortgage volumes rise again boosted by both purchases and refinances
A spike in government-sponsored applications helped lead indexes to their largest gains in several weeks.
Mortgage lending activity hit 13-month low in May
Changed borrower psychology and the severe housing inventory shortage dropped lending activity across the board, according to Black Knight.
Mortgage lenders remain negative on profits, citing competition
More than two-thirds surveyed said they expect to make less money over the next three months as price reductions ramp up along with a market shift to purchases.
Rising refis drove 1Q mortgage volume to 21-year high
Refinancings more than doubled the year-ago amount and made up for the slowed purchase activity, according to Attom Data Solutions.
Mortgage volume rises on refinancing gains, even as rates go up
Average loan size also continues to increase, as demand remains high and costs in homebuilding materials rise this year.
Housing supply shortage will restrict growth into 2022: Fannie Mae
Economic recovery should soar into the summer as vaccination rates climb and restrictions loosen up, but low inventory is likely to limit mortgage activity into the next year, according to Fannie Mae.
Fannie Mae earnings rise due to accounting switch
Hedge accounting will align Fannie’s reporting with competitor Freddie Mac, and will address a mismatch between the recorded value of financial instruments used to offset interest-rate volatility on mortgages and the loans themselves.
Freddie Mac’s 1Q earnings show refis remained strong
Only $89 billion of the $362 billion in new single-family volume came from purchase mortgages.
Mortgage rates drop on COVID news, but should rise by year-end
Rising cases and vaccine issues caused bond yields to fall, but inflationary pressures will likely reverse that course.
Monthly refinance share falls below 50% for first time in over a year
But the percentage of weekly applications in that category was closer to 60%, the Mortgage Bankers Association found.
Refis down 20% from year-ago levels as mortgage apps overall decline
Mortgage rates that are rising in tandem with a recovering economy dampened borrower activity, even with prime homebuying season underway.
Rising interest rates depress this week’s mortgage applications
While the economic recovery and stimulus checks drove upward movement in purchases, it wasn’t enough to offset tumbling refinance activity.
Retention rates fade to record lows for mortgage servicers
Servicers struggled to bring back their borrowers as the overall retention rate crept down to a nadir in the fourth quarter, according to Black Knight.
Rate spike mutes mortgage application activity with one exception
A slight lift in the purchase market paired with a surprising reversal in the size of the average loan, according to the Mortgage Bankers Association.
CLO activity hits record in Europe on deluge of refi deals
Just over 12 billion euros ($14.6 billion) of new issue, refi and reset paper has priced so far this year, surpassing a previous high of 7.3 billion euros in the first two months of 2018.
Refinancing activity dies down on the heels of rate rise
Between the dip in refis and the approach of the spring buying season, mortgage lenders are likely to start paying a little more attention to the purchase market, which is less rate-sensitive.
Fannie Mae’s 2020 earnings fall due to COVID-related credit expenses
While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.
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