Recovery Summer?? Mortgage Purchase Applications Down 15% YoY, Refi Applications Crash By 13%
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National Mortgage News- Biden taps FTC’s Chopra as CFPB chief, Gensler as SEC chairman January 18, 2021The nominees, strongly backed by progressive Democrats to lead two key Wall Street watchdogs, signal that the Biden administration is planning tough oversight after four years of light-touch policies under appointees of President Donald Trump.
- CFPB sues 1st Alliance alleging improper LO licensing January 15, 2021The CFPB’s allegations are similar to unresolved accusations Connecticut first levied against the company in 2018.
- Mortgages surprisingly resilient in early bank earnings: KBW January 15, 2021While some industry forecasts predicted origination volumes would fall 7% quarter-to-quarter in 4Q, early earnings numbers from Wells Fargo, JPMorgan Chase, Citi and PNC Bank show they were down just 3% when purchased loans are excluded.
- Fannie and Freddie boost 2021 forecasts due to vaccine distribution January 15, 2021Despite mortgage rates expected to rise modestly in 2021, a bolstered Biden administration stimulus package and COVID-19 vaccination efforts bring promise for economic recovery.
- Biden taps FTC’s Chopra as CFPB chief, Gensler as SEC chairman January 18, 2021
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- Continued Deterioration in Origination Quality October 26, 2018As home lenders and investors have recently been a little more relaxed about credit qualifications compared to just after the crisis, mortgage quality has weakened. Still, quality is better than before the crisis.During the past three years, the quality of residential loans originated has weakened, though credit quality remains far stronger than the early 20 […]
- Best Mortgage Lenders By Category October 26, 2018A report based on a recent survey of consumers who were shopping for a residential loan has identified the best home lenders in a variety of categories -- including government programs, jumbo loans and online services.The 10-question survey of prospective mortgage borrowers found that before they applied for a home loan, 40 percent checked their credit repor […]
- Business Falls to 6-Month Low at Freddie October 26, 2018New business at the Federal Home Loan Mortgage Corp. retreated to its lowest level in six months. Delinquency, meanwhile, remained at its lowest level in a decade.When September was over, Freddie Mac's total mortgage portfolio stood at $2.1513 trillion -- including a $0.2278 trillion in mortgage investments and $1.9235 trillion in outstanding mortgage-r […]
- Continued Deterioration in Origination Quality October 26, 2018
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