Articles Tagged with ''MBA''

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.
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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.
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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.
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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.
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MBA: Don't Lump Mortgage Bankers in with Brokers

It's time the market drew a bright line between the roles of mortgage bankers and mortgage brokers, according to a policy paper released Tuesday by the Mortgage Bankers Association; in it, the banker's group said more clarity is needed around the roles and responsibilities of mortgage bankers and mortgage brokers.
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Mortgage Applications Increase on Refis; Purchase Apps Drop

The Mortgage Bankers Association said Wednesday morning that its Market Composite Index of mortgage application activity rose 2.9 percent to 674.4 for the week ended May 9; applications remained off 1.1 percent compared to year-ago activity, the MBA said. The application index is calibrated to March 16, 1990; a reading of 567.0 means that application activity was roughly 5.7 times greater than when the index was first established.
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MBA Comes Out Against New Rating Standards for Structured Securities

The Mortgage Bankers Association and the Commercial Mortgage Securities Association joined with the Real Estate Roundtable and the National Association of Realtors in expressing their opposition to recent proposals that would differentiate between ratings for structured finance products and ratings for other asset classes, such as corporate and municipal bonds.
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Mortgage Applications Shoot Upward as Refis Rebound Strongly

Interest in refinancing among borrowers led to a huge jump in application activity last week, as rates fell amid an easing of selling pressure in key parts of the secondary market for mortgages. According to statistics released Wednesday morning by the Mortgage Bankers Association, a composite index of overall application activity surged by 48.1 percent to 965.9 for the week ended March 21.
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