Lenders lost $2,812 per loan as business dropped off faster than they could trim expenses and production costs hit a record-high $12,450 per loan, Mortgage Bankers Association survey finds
JD Power warns that the mortgage customer experience is increasingly commoditized, with few lenders finding the right formula to be seen as trusted advisers
Economists expect 5.78 million homes to change hands this year, representing a 16.2% decline from a year ago — a steeper drop than the 15.6% pullback forecast in July
Company raises guidance on strong second quarter performance, impact of Top of Mind and eMBS acquisitions
But dwindling profit margins on shrinking mortgage refinancings take a deep bite out of Q2 earnings
For those who believe an impending doom is on the horizon, here is some bad news: It's not going to happen. In this second of two opposing opinion pieces on the housing crash, Matthew Gardner shares why we won't see any mythical bubble bursting
Rising mortgage rates cause Fannie Mae and Freddie Mac to downwardly revise forecasts
The dollar amount of loans distributed during the fourth quarter of 2020 was also the highest quarterly amount distributed since at least 2000
During the third quarter, 3.25 million mortgages were originated on residential properties, the highest level this figure has reached in 13 years
During the second quarter of 2020, 1.69M refinance mortgages were secured by residential properties in the U.S., a number up nearly 50% from the first quarter, and up more than 100% year over year to its highest level in 7 years
Spurred by historically low interest rates, new refinances made up about $328.5 billion in total dollar volume in Q1, up 105 percent from the same period last year
Decreasing mortgage rates contributed to the highest volume in mortgage originations in 14 years at a total of $752B, according to the Federal Reserve Bank of New York
High mortgage rates may have been to blame for the drop
This group of individuals was hit harder by the recession than any other group and still haven’t recovered as fully as salaried workers, which is considered a factor
Fannie Mae: Housing's contribution to economic growth expected to double in 2014