Breaking News
  • Freedom Mortgage to acquire RoundPoint Mortgage Servicing

    Freedom Mortgage and RoundPoint Mortgage Servicing are planning to merge, the companies announced Friday. The deal will make RoundPoint a wholly owned subsidiary of Freedom and boost its servicing portfolio to more than $300 billion. Click the headline to read more.

Articles Tagged with ''MBA''

Mortgage Applications Fall to Lowest Level in Six Years

Mortgage applications headed downward again last week, reaching levels not seen since 2002 as refinance volume continues to shrink and purchase applications remain at historically low levels. The Mortgage Bankers Association said Wednesday morning that its weekly survey of applications found a 1.5 percent decrease in its composite application index, to 419.3 for the week ended Aug. 15. That total was off 34.2 percent compared to year-ago application volume.
Read More

Mortgage Apps Drop as Rates Rise: MBA

Rising rates helped push consumers out of the market for a mortgage, according to statistics released Wednesday by the Mortgage Bankers Association. The group's weekly application survey found that a composite index fell 1.5 percent to a seasonally-adjusted reading of 425.9 for the week ended Aug. 8; applications are down a whopping 36.9 percent versus year-ago levels.
Read More

MBA Chief Kempner to Step Down

The Mortgage Bankers Association said late Tuesday that current president and CEO Jonathan Kempner had resigned; news of his departure comes as the industry lobbying group is having to ramp up its efforts on Capitol Hill, as well as defend itself from critics that claim its membership helped fuel the credit crisis now gripping the world's financial markets.
Read More

Purchase Apps Dive as Rates Soar: MBA

Mortgage purchase applications took a nose dive last week, falling 6.7 percent, as mortgage rates jumped up sharply, according to data released Wednesday morning by the Mortgage Bankers Association. The MBA's composite index of application activity, which includes both purchase and refinances, fell 6.2 percent to 489.6 for the week ended July 18, the trade group said in a press statement. Overall applications were 19.6 percent below year-ago levels.
Read More

Mortgage Applications Drop as Rates Rise, Refis Dry Up

The summer surge that wasn't now appears to be firmly in prospective buyers' rearview mirrors, according to data released Wednesday morning by the Mortgage Bankers Association. The association's weekly mortgage application survey found that a composite index of purchase and refinance activity fell 8.7 percent on a seasonally-adjusted basis to 508.4 for the week ended June 13.
Read More

MBA: HUD and Federal Reserve Must Work Together on RESPA Reform

As a critical comment period for proposed reform to the Real Estate Settlement and Procedures Act by the U.S. Department of Housing and Urban Development expires today, the Mortgage Bankers Association on Thursday weighed in with a stern warning for HUD officials: work with the Fed on updating the Truth in Lending Act in conjunction with RESPA, or risk hopelessly bungling both.
Read More

Primed for Trouble: Pace of Mortgage Distress Shifts to Prime Borrowers

While foreclosure activity hit an all-time record in the first quarter, according to statistics released Thursday morning by the Mortgage Bankers Association, a shift of the mortgage mess towards prime borrowers appears to be taking place as well -- signaling that the credit crunch that began among those with less-than-perfect credit may now be marching onward towards borrowers usually deemed better credit risks.
Read More

Mortgage Applications Hit 6-Year Low as Rates Surge: MBA

Applications for mortgages stumbled to their lowest level in six years last week as rates on fixed-rate mortgages surged, according to data released Wednesday morning by the Mortgage Bankers Association. The association's composite index, which covers purchase and refinancing activity, fell 15.3 percent on a seasonally-adjusted basis to 502.3 for the week ended May 30, from a reading of 593.3 one week earlier.
Read More