Originations

As rising home valuations force first-time home buyers out of the market, expect to see non-owner-occupied loans to increase.

“One” is the first in a series of non-agency mortgages the wholesaler plans to introduce this year.

Boosts in purchases and cash-out refinances drove the summer turnaround, according to Black Knight.

Even though the channel helped the bank do over $2 billion in business last year, going forward it will produce loans through the traditional retail business.

Increases in refinances, both in applications and average size, help lead overall numbers higher

The data also showed that more purchase loans were made to low- and moderate-income borrowers last year, but fewer refinances.

Demand was strongest at the high end of the market, which pushed loan amounts up for the fourth straight month.

A spike in government-sponsored applications helped lead indexes to their largest gains in several weeks.

Changed borrower psychology and the severe housing inventory shortage dropped lending activity across the board, according to Black Knight.

Refinancings more than doubled the year-ago amount and made up for the slowed purchase activity, according to Attom Data Solutions.