The FHA endorsed a total of $61.54 billion of forward mortgages during the second quarter, according to a new Inside FHA/VA Lending analysis and ranking.
Fannie Mae recently released performance data covering some $70.0 billion of outstanding modified loans as well as $60.0 billion of modified loans that have either re-defaulted or paid down.
On loan applications for 30-year fixed-rate conventional mortgages received in June 2016, the average loan size was $316,000, up from an average of $259,000 in June 2012, according to the Mortgage Bankers Association.
While private mortgage insurance on new non-agency mortgage originations has been minimal since 2008, some industry participants project that private MI will play a role in the non-agency mortgage-backed security market going forward. “Mortgage insurers may get more involved with the private-label market, and this may be another source of third-party oversight,” Morningstar Credit Ratings said in a recent report. “While it is too early to predict the investors’ response to ...
Underwriting standards for jumbo non-qualified mortgages were largely unchanged in the second quarter of 2016 compared with the previous period, according to the Federal Reserve’s senior loan officer opinion survey. Some 53 respondents didn’t change their underwriting standards for the loans compared with the previous quarter, while three respondents loosened underwriting for the loans “somewhat” and two tightened somewhat. Four of the ... [Includes two briefs]
FHA single-family endorsement activity saw a solid 15.0 percent increase from the first to the second quarter of 2016, but the program lost market share in the red-hot primary mortgage insurance business. The FHA endorsed a total of $61.54 billion of forward mortgages during the second quarter, according to a new Inside FHA/VA Lending analysis and ranking. That brought year-to-date production to $115.06 billion, a 9.0 percent increase over ... [Includes two data charts]
Mortgage lenders originated $48.26 billion of single-family mortgages with VA home loan guaranties during the second quarter of 2016, according to agency data provided this week to Inside FHA/VA Lending. Second-quarter volume was up 30.0 percent from the first three months of the year, with the biggest increase coming in streamlined refinancing. The VA said originations of interest rate reduction loans totaled $16.50 billion in the second quarter, up 51.6 percent ...