Commercial banks and savings institutions racked up $5.18 billion in mortgage-banking income during the third quarter of 2016, a huge 44.6 percent increase over the three-month period ending in June, according to a new Inside Mortgage Trends analysis of call report data.
In a development of keen interest to mortgage loan officers, a federal judge in Texas this week granted states’ motion to block the Department of Labor’s controversial overtime pay final rule set to take effect on Dec. 1, 2016.
Mortgage applications rose 5.5 percent for the week ending Nov. 18, 2016, versus the prior week, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. The Refinance Index declined 3 percent from the previous week to its lowest level since January 2016. The seasonally adjusted Purchase Index increased 19 percent from one week earlier. …
Third-party originator channels posted relatively large gains in production volume during the third quarter of 2016, according to a new analysis and ranking by Inside Mortgage Finance. An estimated $244.0 billion of first-lien mortgages were originated by correspondent sellers and mortgage brokers during the third quarter, up 16.2 percent from the previous period. The bigger gain was in the correspondent channel, where production jumped 16.4 percent during the third quarter, several points higher than the 13.7 percent increase in total first-lien originations. Retail remained...[Includes four data tables]
Commercial bank and savings institution holdings of non-agency ABS fell again during the third quarter of 2016, marking the 11th consecutive quarterly decline in the industry’s investment in the sector, a new Inside MBS & ABS analysis of call-report data reveals. Banks and thrifts held $128.55 billion of ABS on their balance sheets at the end of September, down 1.9 percent from the previous quarter. The industry’s aggregate ABS portfolio was off 8.8 percent from the same point in 2015. The ABS market itself shrank...[Includes two data tables]
Commercial banks and savings institutions recently wrapped up their best quarter in over a year in terms of mortgage-banking income, according to a new Inside Mortgage Trends analysis of call-report data. The industry racked up $5.18 billion in mortgage-banking income during the third quarter, a huge 44.6 percent increase over the three-month period ending in June. It was the best quarter in mortgage-banking income since the April-June cycle in 2015, when ... [Includes one data chart]
Just over one fifth – 21 percent – of homebuyers this year regret their choice of mortgage lender, according to a new survey by J.D. Power. For first-time homebuyers, that number jumps to 27 percent. “Overall satisfaction scores have increased year over year, but a high percentage of home buyers are remorseful about their mortgage lender selection,” J.D. Power said. Of those homebuyers who regret their decision, the firm found two distinct scenarios have unfolded ...
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