Refinance

For the first time since the start of the housing crisis, mortgage origination volume could top $2 trillion for three consecutive years, according to Fannie Mae.

The 34 narrowbody and widebody aircraft in the portfolio are older-vintage planes with a weighted average age of 13.8 years, but all but one of the planes remains an in-production model.

More than half of the third quarter refinance activity was the cash-out variety, with borrowers removing the most total equity from their homes in nearly 12 years, according to Black Knight.

With economic expansion expected to keep churning through at least the first half of next year, Fannie Mae upwardly revised its single-family mortgage origination outlook for 2019 and 2020.

The sponsors of the Class A structure, deemed a “trophy asset” by Kroll Bond Rating Agency, are placing $825 million of a $1.2 billion whole loan into a transaction dubbed CPTS 2019-CPT.

The dollar volume of mortgages guaranteed by the Department of Veterans Affairs rose nearly 9% in the past fiscal year as interest-rate reduction refinancing loans surged nearly 75%.

Freddie Mac is now forecasting back-to-back years of $2 trillion in mortgage loan originations rather than a drop-off in 2020.

A swell of refinance demand amid a low mortgage rate environment pushed lender profit margin outlooks to the highest level since the first quarter of 2015, according to Fannie Mae.

Mortgage rates rose for the first time since the middle of July, but that, along with continued consumer worries about the economy, helped to reduce application activity from the prior week.

Refinances jumped in July in response to a considerable mortgage rate decline from the month prior as homeowners set to lock in lower costs, according to Ellie Mae.