3 quick takeaways from the mortgage conference happening right now

3 quick takeaways from the mortgage conference happening right now

Tidbits from SourceMedia Mortgage Servicing conference

New home sales plummet 14.5% in March

Spring buying season off with a whimper

4 metrics reveal California's true housing market

Foreclosures dwindle as home prices skyrocket

Items Tagged with 'Refinance'


Refinances continue downward trend, ARMs on the rise

ARMs up 5% from March 2013
April 16, 2014
ARMs made up 7.4% of the home loans closed in March. That was up by nearly 5% over March 2013’s figure of 2.5%.
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Share of purchase loans increasing, time to close decreasing

Ellie Mae: Refinances represent 43% of total share
March 19, 2014
Residential home loan refinances continued on a downward trend in February, according to the origination insight report for February 2014 from Ellie Mae.
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Mortgage applications drop 2.1%

Refinance share hits lowest level since April 2011
March 12, 2014
Mortgage applications reversed course and dropped 2.1% from last week, as the refinance share of mortgage activity dipped to the lowest level in nearly three years.
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Originations, refinanceable population both go nose down

Black Knight's report details the why
March 4, 2014
Black Knight Financial Services' “Mortgage Monitor Report” observed a general decline in the overall “refinancible” population of both traditional and HARP-eligible borrowers, and a 60% decline in originations.
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Mortgage apps drop to two-decade low

Purchase applications fall to 1995 levels
February 26, 2014
Mortgage applications fell 8.5% from a week prior continuing its downward trend for the week ended Feb. 21, as purchase activity failed to meet market expectations.
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Mortgage applications continue to fall, drop 4.1%

February 19, 2014
Mortgage applications continued to fall and dropped 4.1% for the week ended Feb. 15, as the refinance share of mortgage activity fell slightly to 61% of mortgage applications.
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HOPE NOW assists 768,000 borrowers in 2013

281,000 short sales completed last year
February 13, 2014
Approximately 768,000 homeowners received permanent, affordable loan modifications from mortgage servicers in 2013, according to HOPE NOW’s final 2013 loan modification data.
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Mortgage apps reverse course, decrease 2%

Refinance share remains frozen
February 12, 2014
Mortgage applications witness another quiet week, with the overall share of refinance activity remaining frozen again at 62% of mortgage applications.
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3 million refis and counting

The Home Affordable Refinance Program passes a milestone
February 10, 2014
Demand for the Home Affordable Refinance Program continued to trickle as mortgage rates climbed higher after June 2013. But just how much did this affect refinance volume in 2013?
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Mortgage applications increase 0.4%

Refinance index grew 3% from the previous week
February 5, 2014
Mortgage applications barely budged for the week ending Jan. 31, increasing 0.4% from last week. Similarly, the refinance share of mortgage activity did not move an inch and stayed at 62% of total applications.
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