Refinance

The GSE forecasts $4 trillion in production this year because refinance activity is stronger than expected.

The agency’s new chief said eliminating the “adverse market fee” — in place since December — will make it easier for families to refinance while mortgage rates are still low.

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.

Consumer advocates and mortgage industry officials are urging Sandra Thompson, the new acting director of the Federal Housing Finance Agency, to undo many policies that her predecessor, Mark Calabria, put in place over the past year.

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

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.

More than two-thirds surveyed said they expect to make less money over the next three months as price reductions ramp up along with a market shift to purchases.

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