Industry News

Real estate loan originations up

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Mortgage originations increased in the first half of 2005, and the demand for interest-only, option adjustable-rate and Alt-A mortgage products also were on the rise, according to an industry report released today. From the last half of 2004 to the first half of 2005, first mortgage origination volume rose, according to the Mortgage Bankers Association's Midyear 2005 Mortgage Originations Survey, which covers single-family mortgage originations during the first and second quarters of 2005. The dollar volume of first-mortgage originations increased 10 percent from the second half of 2004 to the first half of 2005. The survey also provided evidence of a shift in consumer demand from ARM products to interest-only and Alt-A products. While the ARM (excluding interest-only loans) share of originations decreased from 46 percent to 36 percent, the share of originations that were interest-only loans increased from 17 percent to 23 percent and the share of originations that were Alt-A loan...