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2018-2019 Home Lending Outlook Cut By $26 Billion
8/17/2018 11:55 AM
The forecasted volume of residential loans to be originated this year and next year has been reduced by $26 billion. Home purchase financing took the biggest hit.....Third-quarter 2018 mortgage production by all U.S. originators is expected to reach $442 billion. U.S. The outlook includes refinances and loans to finance a home purchase...<...Read More
New Low for GSE Refinances
8/17/2018 11:55 AM
Monthly refinances of government-sponsored enterprise loans sank to the lowest level on recent record. Refinances of Federal Home Loan Mortgage Corp. loans suffered most.....During June, primary mortgage originators refinanced 90,856 residential loans backed by the Federal National Mortgage Association and Freddie Mac.....Based on a Mor...Read More
NewDay Takes LO Training to New Level
8/17/2018 11:55 AM
Recruiting for loan originators at NewDay USA is focused on recent college graduates, while training for the license exam is done through an in-house program.....Instead of cramming prospective originators into a hotel room for days at a time to learn the material from third parties like its peers, NewDay has created its own training program....Read More
Drop In Mortgage Rates Likely to Hold
8/17/2018 11:55 AM
Interest rates on home loans tumbled over the past week, and they are likely to remain there over the next week. A report on monthly closings had loans to veterans with the lowest rates.....Single-family loans that were closed during July had an average 30-year note rate of 4.91 percent, according to the Ellie Mae Origination Insight Report |...Read More
Construction Permits Up, Completed Constr Down
8/17/2018 11:55 AM
Even though the volume of housing permit issuance was up last month, the pace of completed construction slowed. Construction starts were little changed.....In municipalities where permits are issued for single-family and multifamily properties, new construction was authorized on 114,000 housing units during July.....Activity last month ...Read More
Mortgage Delinquency Falls to 13-Year Low
8/17/2018 11:55 AM
The percentage of the nation"s mortgages that were either past due at least a month or in the foreclosure process fell to the lowest level in 12 years. But the outlook is less than stellar.....Thirty-day delinquency on U.S. single-family loans, including loans in the foreclosure inventory, ended the second quarter at 5.41 percent -- the lowes...Read More