Credit Suisse thinks mortgage bankers will originate about $1.75 trillion in new home mortgages this year with refinancings accounting for 58% of the total.

CS analyst Moshe Orenbuch noted that his forecast "is subject to variations that may be caused by public policy measures." 

The firm thinks that a loosening of loan-to-value requirements could cause "a significant amount" of refi activity. In 2008 mortgage bankers funded about $1.6 trillion in one- to four-family originations, according to figures compiled by National Mortgage News and the Quarterly Data Report.

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