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KeyCorp Mortgage Investments Yet to Pay Off
10/19/2018 2:26 AM
Investments in mortgage origination staff and a financial institution with a mortgage business have yet to pay off for the parent of KeyBank.....In 2016, KeyCorp completed its purchase of First Niagara Financial Group. The purchase gave the Cleveland-based company a strong foothold in the mortgage business.....Following the acquisition,...Read More
Fannie Cuts 2018, 2019 Origination Forecast
10/19/2018 2:26 AM
he latest housing forecast from Fannie Mae has this year"s mortgage originations coming in $35 billion less than previously expected, while next year"s outlook was cut by $61 billion.....Economists at the secondary mortgage lender expect home lending by all U.S residential originators to amount to $386 billion during the final three months of...Read More
Mortgage Rate Forecasts Have Little Change Ahead
10/19/2018 2:26 AM
Thirty-year mortgage rates moved lower this past week and this past month. Short- and long-term forecasts have little movement ahead for mortgage rates.....Ellie Mae Inc."s Origination Insight Report | September 2018 indicated that average 30-year note rates on single-family loans closed last month were 4.91 percent.....A 1-b...Read More
Business, Earnings Improve at MGIC
10/19/2018 2:26 AM
New quarterly business was solidly higher at MGIC Investment Corp., as were earnings. Also improving was the rate of delinquency on its book of business.....From July 1 through Sept. 30 of this year, income before taxes at the Milwaukee-based mortgage insurance company was $232 million, according to third-quarter earnings data.....Resul...Read More
GSE Mortgage Refinances Bounce Off 7-Yr Low
10/19/2018 2:26 AM
After plunging to the weakest level in at least seven years, government-sponsored enterprise refinance volume bounced up to the second-slowest month during the period. HARP production fell to a new low.....In August, there were 90,506 single-family loans backed by the Federal National Mortgage Association and the Federal Home Loan Mortgage Co...Read More