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Mortgage Bankers Association - News


Banks Cut as Mortgage Boom Ends
http://online.wsj.com/news/articles/SB10001424052702303754404579310940019239208
Banks Cut as Mortgage Boom Ends The Mortgage Bankers Association next week plans to cut its 2014 forecast for loan originations, which include loans for home purchases and refinancing. The current forecast of $1.2 trillion would represent the lowest level in 14 years. The trade group 

US Mortgage Applications Volume Grew 12% Last Week, MBA Says
http://online.wsj.com/article/BT-CO-20140115-703289.html
US Mortgage Applications Volume Grew 12% Last Week, MBA Says The average number of mortgage applications jumped 12% on a seasonally adjusted basis as interest rates fell from the previous week, the Mortgage Bankers Association said Wednesday. The prior week's results included an adjustment to account for the 

New mortgage rules tough enough: Opposing view
http://www.usatoday.com/story/opinion/2014/01/06/dodd-frank-mortgage-american-bankers-association-editorials-debates/4346417/
New mortgage rules tough enough: Opposing view This rule, which reflects the Dodd-Frank Act's mandate that banks retain a portion of the risk for some mortgages they originate, could have been much worse than it is now. When the regulators first proposed it three years ago, it included requirements

As mortgage banking industry dwindles, bidding wars over quality housing ...
http://www.nj.com/mercer/index.ssf/2014/01/as_mortgage_banking_industry_dwindles_bidding_wars_over_quality_housing_become_common.html
Estimates by the Mortgage Bankers Association, an industry trade group whose annual projections are used by lenders in staffing decisions, are a driving force in banks' recent behavior, Kate Berry, a reporter at American Banker, a top banking industry 

Mortgage Bankers Association

mortgage-bankers-association.c om Your investment in your home represents security to you and your family, especially during troubled economic ...

Loan apps submitted to home builders suggest strong spring buying

"The confluence of declining mortgage rates with the spring buying season is supporting stronger housing demand and activity," Mike Fratantoni, senior vice president and chief economist at the MBA, said in a press release. "Additionally, the drop in average loan size suggests that builders are tilting production to lower-priced homes, which continues to see the tightest inventories and strongest home-price growth."

Conventional loans continue to dominate mortgage applications submitted to builders in March, but the share of Federal Housing Administration-insured mortgages was slightly higher than it was a year ago.

In March, nearly 69% of builder applications were for conventional loans, almost 19% were for FHA loans and 12% were for mortgages insured by the Department of Veterans Affairs. Less than 1% of new-home purchase applications were for Rural Housing Service/U.S. Department of Agriculture products.

A year ago, more than 71% of applications submitted to builders were for conventional loans, more than 15% were for FHA loans and 12% were for VA loans. A little more than 1% of new-home loan applications were for RHS/USDA loans.

Homeowners are rushing to refi mortgages as rates drop

Homeowners throughout the country are looking to refinance their mortgages thanks to lower borrowing costs, contributing to a sharp government bond rally.

The recent bump in refinancings means investors who own the debt might soon see their loans paid back in full. So now, some large money managers are buying Treasuries and interest rate swaps in an effort to offset lost income from mortgages, the Financial Times reported.

Applications to refinance home loans increased by roughly 12 percent last week compared to the week before, according to data from the Mortgage Bankers Association .

This has worsened the recent government bond rally, analysts and investors told the FT, with 10-year yields dropping about 38 points since the beginning of March.

Real estate investment trusts are especially interested in hedging since their liabilities do not fluctuate with interest rates the same way their mortgage loans do.

The lurch downward in Treasury yields

One in seven mortgage is in now past due. This will only increase. What makes people think we are recovoring?

The Mortgage Bankers Association said in early November that one in every seven mortgages was now past due.
Greg DC is the Big Turd in the Financial pipes.
0bama being the biggest.


Obama has a another typical Obama IDEA............................provide Government assistance to help the people who went belly up, "revise" their mortgages, to help them get back into their house...............right.....

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