Items Tagged with 'Mortgage Bankers Association'

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MBA: Refinance applications fall to eight-year low

Mortgage applications fall back for second straight week
The share of mortgage applications for refinances just fell to a level not seen since October 2008, new data from the Mortgage Bankers Association showed. According to the MBA’s latest Weekly Mortgage Applications Survey, the refinance share of mortgage activity declined to 44% percent of total applications, the lowest that figure has been in more than eight years.
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Here are tips on knowing whether to build, buy or partner for mortgage technology

Ellie Mae reveals the criteria it uses
As mortgage technology infiltrates the industry, it poses a question for lenders: How do they want to move forward into the new world? Joseph Tyrrell, executive vice president of corporate strategy with Ellie Mae, sat with HousingWire at the MBA tech conference to give tips on how companies can decide whether they should build, buy or partner to get this technology.
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MBA chief economist: The answer to the rising cost to produce a mortgage

And how you can you solve it
After updating attendees with the status of the industry, which included the challenges of dealing with the housing inventory drought and ever-rising interest rates, the Mortgage Bankers Association’s chief economist concluded his presentation with a call to action. To the industry: This is what you need to do to fix the rising costs to produce a mortgage.
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Tech talk at MBA: Do we build technology or do we partner?

How to disrupt the mortgage finance industry
No one in the mortgage industry needs to be convinced about the power, prominence and appeal of technology anymore. Look no further than the Mortgage Bankers Association’s National Technology in Mortgage Banking Conference and Expo in Chicago for proof. Helping kick off the conference on Monday, executives from JPMorgan Chase, Ellie Mae, USAA and Quicken Loans discussed their perspectives on fintech.
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MBA: Mortgage applications reverse course, fall

30-year fixed-rate mortgage stays frozen
Mortgage applications reversed course and dipped slightly from the previous week due to a drop in both purchase and refinance applications. Meanwhile, the 30-year fixed-rate mortgage with a conforming loan balance managed to stay the same.
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Rising interest rates become double-edged sword for mortgage-banker profits

Cost to close keeps getting cheaper
The recent growth of independent mortgage bank profit hit a speed bump when mortgage interest rates started to steadily increase toward the end of 2016. Now, despite the surge in profit at the start of 2016, independent mortgage bank profit is struggling. But rising interest rates aren't all bad news for the bottom line.
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MBA: Trump’s budget shows political statement of priorities

Not just because of funding cuts
The Mortgage Bankers Association explained President Donald Trump’s proposed budget shows housing is not a priority for the administration. The MBA explains it’s not just the cuts to HUD that show the president’s focus. The lack of housing direction in the budget can be just as telling as the funding cuts.
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MBA: Mortgage applications rise three-weeks straight

Market gears up for spring home-buying season
After seesawing at the start of this year, mortgage applications managed to increase three-weeks straight as the market gears up for the spring home-buying season. On the other side, mortgage interest rates for most products jumped close to two-year highs. Here’s what interest rates look like heading into peak home-buying season.
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MBA: Average loan size for purchase applications hits all-time high

Latest report also shows ARMs hit highest level since October 2014
The average loan size for purchase mortgage applications reached an all-time high last week, according to the latest data from the Mortgage Bankers Association. The report shows that the average loan size for purchase applications last week was $313,300 - that’s the highest that figure has been during any week since the MBA began conducting its weekly application survey in 1990.
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