Some industry participants are questioning the accuracy of the MBA’s refinance application index, suggesting that Google search trends are a better gauge.
Interest rates are falling, refis are increasing and optimism abounds among many mortgage professionals. However, hiring has not been robust this spring but all that may soon change.
Ditech is once again operating under Chapter 11 bankruptcy protection. But its problems, like a top subservicing client wanting out, are accelerating. Can the firm's advisors sell the shop before it's too late?
Quicken Loans last week allowed short-term rental income from Vrbo, a vacation rental platform, to be used to qualify for a refinance. Some other lenders are exploring similar approaches.
The wholesale-broker channel appears to be gaining ground in the tightly competitive primary market in agency conforming mortgages. A new Inside Mortgage Trends analysis reveals that broker originations accounted for 12.5% of single-family loans pooled in agency mortgage-backed securities during the first quarter of 2019. That represented a substantial leap of 1.3 percentage points from the broker share of Fannie Mae, Freddie Mac and Ginnie Mae ... [Includes two data charts.]
The mortgage industry is bracing for a flat year in terms of volume due to higher mortgage rates, a slowing economy and weak loan demand. [Includes one data chart.]
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