Provisions designed to increase borrower awareness of the availability of home loans backed by the Department of Veterans Affairs remain in an expansive housing bill that Congress could pass as soon as next week. The MBA has expressed operational concerns.
Purchase-mortgage volume declined 14.3% on a sequential basis, while refinances were up 8.0%. The rise was propelled by FHA refis, which grew 6.2% from the fourth quarter to $24.06 billion.