Originations increased across mortgage products in the second quarter. The conventional-conforming sector’s market share held steady while government-insured lending lost some share. (Includes data tables.)
The spring homebuying season helped to increase purchase-mortgage lending by 40% from the first quarter to the second. Still, the purchase sector lost some market share in the first half of the year as refi business percolates. (Includes five data tables.)
Interest rates on mortgages declined as the traditional homebuying season nears an end. Demand for purchase mortgages also continues to be limited by weak inventory of homes for sale and elevated home prices.
With mortgage originations coming off two challenging years — to put it mildly — now might be a good entry point for warehouse providers. At least that’s what Scotiabank is betting on.
A Fannie survey of recent homebuyers shows a growing interest in digitizing the homebuying process. That includes finding a home, getting a mortgage and filling out the closing documents.
Refis are poised to increase and MSR values will decline as interest rates decline. United Wholesale Mortgage is prepared for the moment, having sold off a significant amount of MSRs earlier this year.
Lenders and servicers have made significant investments in recapture capabilities in recent years for when interest rates decline and refinancing takes flight.
Certain mortgage companies are starting to feel bullish about lower interest rates, predicting better times ahead and more hiring by lenders. So far this year, personnel counts at nonbank mortgage companies have been weak, in aggregate, but loan brokers are adding to their ranks.
Senate fails to move tax bill, which included changes to LIHTC; GSEs, FHA extend compliance deadline for ROV requirements; Treasury pushes FHLBanks on affordable housing; Morningstar concerned that market sell-off will become a self-fulfilling prophecy; loanDepot sets money aside for settlement related to a cyberattack.
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