Mortgage Activity Suffered Under High Rates In August

Mortgage Activity Suffered Under High Rates In August

Mortgage activity dipped in August as rates reached new highs and inventory remained low, according to Black Knight’s latest Mortgage Monitor report. The 30-year conforming soared above 7.25% last month, its highest level in more than 20 years, before cooling down to 7.07%. As a result, overall rate lock volumes sank for a third straight…

Top Originators Wary About The Next 6 Months

Top Originators Wary About The Next 6 Months

High rates are making top originators nervous about the next six months. Scotsman Guide asked mortgage pros who qualified for their Top Originator rankings how they expect their businesses to fare in the next six months. Their answers were tepid, with an eye on uncertainty. The biggest change came from the percentage of originators who…

Originations Up In May, But Not By Much

While May saw a more robust mortgage market, demand is still nowhere near normal. Black Knight’s latest Originations Market report found that though mortgage originations fared better in May than in April, they remain constrained. Overall rate lock volumes were up 14% month-over-month in May due to April having two fewer business days. Production was…

MBA Chief Economist: Expect Mortgage Originations To Decline In 2023
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MBA Chief Economist: Expect Mortgage Originations To Decline In 2023

By KIMBERLEY HAAS Mortgage originations are expected to decline in 2023 as market factors continue to present challenges for those in the industry. Michael Fratantoni, the Mortgage Bankers Association’s chief economist and senior vice president of research and industry technology, said during a session at the National Advocacy Conference in Washington, DC, this week that…

Rate Locks Set New Record Lows

Rate Locks Set New Record Lows

Rate lock volumes took a beating in December as buyers and sellers remained on the sidelines. Black Knight’s December Originations Monitor Report found that typical seasonal patterns, together with continuing inflationary pressures and elevated rates, resulted in record lows for locks of all kinds. “Using Black Knight’s McDash mortgage performance data to provide comparative history,…

Home Point’s Jim Janczy Joins NewFed

Home Point’s Jim Janczy Joins NewFed

Jim Janczy joined NewFed Mortgage as EVP-Chief Production Officer, the company announced in a press release. In his new role, Janczy will be responsible for NewFed’s sales and marketing. He is known for success in startups and building territories, as well as client service that leads to long-term, trust-based relationships. Janczy has received several “Top…

Loan Lock Volumes Fall Below Pre-Pandemic Norms For 3rd Month Straight

Loan Lock Volumes Fall Below Pre-Pandemic Norms For 3rd Month Straight

Lock volumes dipped almost 10% from August, bringing them down 30% in the last three months and 60% YOY, according to Black Knight’s latest Originations Market Monitor. Purchase locks are 10.2% below pre-pandemic levels. This is the third straight month of lock activity below pandemic norms. The decline in locks coincides with interest rates rising…

Mortgage Lenders Lost Money On Each Loan Originated In Q2 2022

Mortgage Lenders Lost Money On Each Loan Originated In Q2 2022

Mortgage Lenders lost money on every loan originated for the first time since 2018 in Q2, according to the Mortgage Bankers Association’s (MBA) Quarterly Mortgage Bankers Performance Report. Independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $82 on each loan they originated in the second quarter of 2022, down from…

Overall Mortgage Lending Down, Though HELOCs See Boost

Overall Mortgage Lending Down, Though HELOCs See Boost

Overall residential lending activity dropped 32% YOY, the fastest decline in eight years, according to ATTOM’s Q1 U.S. Residential Property Mortgage Origination Report. The report found that 2.71 million mortgages secured by residential property were originated in Q1 2022. This is a drop from Q4 and the fourth consecutive quarter of declines. Refinances were down…

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