Originations

Comments from Federal Reserve officials in Jackson Hole last week have markets bracing for further tightening of monetary policy in the near term.

Consumers taking out adjustable-rate mortgages last year put down a median down payment of 23.6%, researchers at the real estate brokerage found.

The amounts canceled may not clear away enough debt to help all recipients immediately qualify or improve their ability to repay, but over time the savings may bolster originations and performance.

Better-than-expected economic data helped lead to the steep acceleration of the 30-year average, while the 15-year also shot up.

Some housing numbers have been weaker than expected because affordability remains relatively low, outweighing slightly higher refinancing that has an upside for lenders but a potential downside for servicers.

Activity is coming in at or below 2020 levels according to reports from the Mortgage Bankers Association and Redfin.

The REIT did not issue a securitization in the period because of the upheaval, but found a more receptive marketplace in July.

Refinances inched up 2% as interest rates dipped, but accounted for only 31% of activity, compared to two-thirds a year ago.

Volumes set a record in 2021 and they've held up better than expected this year, but declines are forecasted for the sector some banks are using to partially offset single-family's slump.

At the same time, homes bought with FHA-backed loans accounted for the smallest share since 2007, according to an Attom sales report.

New single-family home mortgage applications, housing starts and industry sentiment all came in at their lowest since 2020.

Following their largest drop in over a decade one week ago, averages rapidly swung upward as recession talk receded.

The 18.5% increase in Fannie Mae's and Freddie Mac's purchase authority was the driver of a 41% decrease in higher balance originations between December and January.

The former lender’s abrupt closure Wednesday and First Guaranty’s recent bankruptcy filing highlight difficulties in the current mortgage environment despite nonbanks being on stronger financial footing than their counterparts of 14 and 24 years ago.

Average purchase-loan amounts shrank for the second week in a row and are currently 12% below their record size in March.

But second home sales — which were below pre-pandemic levels for the first time in 24 months during May — may slow in the future as those in vulnerable areas get tougher to insure.

The median prices for the most sought-after metro areas were on average $128,000 lower than in the city the buyer was leaving, Freddie Mac's study of Loan Product Advisor data found.

Recent remarks from Federal Reserve Chair Powell suggest more upward movement is ahead.

Depreciation risk in parts of New Jersey, Illinois and California is growing, according to a first quarter analysis by Attom Data Solutions.

Non-depository institutions originated an even greater share of all home loans compared to the year before, according to the Federal Financial Examination Council’s latest analysis of Home Mortgage Disclosure Act data.