While it is taking longer to close a home loan, the closing ratio has improved — especially on refinance transactions. It took 50 days to process and close a mortgage in September, lengthening from the 49-day turnaround the previous month and 41 days in the same month last year. The number of days to close [...]
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Closing Rate Improves as Turnaround Slows
October 17th, 2012 
davidguide 
Posted in Business Loans 
Tags: home, home loan, Improves, Loan, Mortgage, number, Slows, Turnaround 
Comments OffGuidance Issued on LO Comp Rule
August 18th, 2012 davidguide New rules on loan fees and interest rates have been proposed, while another proposal seeks to eliminate some of the disparity between bank and non-bank loan originators. In addition, changes are being proposed to the existing loan originator compensation rule that should alleviate some industry concerns. On mortgages where a mortgage broker or creditor pays [...]
Posted in Business Loans Tags: consumer protection act, disparity, industry concerns, Issued, loan originator, Mortgage, origination, origination points, prospective borrowers, protection, rule Comments OffJumbo Business Leads Rise in New Activity
July 29th, 2012 davidguide New mortgage activity inched higher this past week with jumbo loans leading the gain. The boost in jumbo business was fueled by a drop in the spread between jumbo and conforming pricing. Demand for government-insured loans and adjustable-rate mortgages, however, turned lower. A sudden surge in long-term Treasury yields today points to higher mortgage rates [...]
Posted in Business Loans Tags: adjustable rate mortgages, Business, demand, drop, loan inquiries, Mortech, Mortgage, mortgage activity, percent, Treasury, treasury yields Comments OffARM Activity Expands Despite Lending Slump
July 21st, 2012 davidguide New mortgage activity took a dip this week, with inquiries for jumbo mortgages leading the pack. The decline came despite a new low for mortgage rates — which could fall even lower. But one category — adjustable-rate mortgages — actually experienced an uptick. The average mortgage loan originator pulled 6 percent fewer pricing inquiries during [...]
Posted in Business Loans Tags: adjustable rate mortgages, ARM, Decline, loan inquiries, Mortech, Mortgage, mortgage activity, mortgage loan originator, Pack, percent, Slump Comments OffMortgage Business Declines, Record Rates Ready to Rise
June 23rd, 2012 davidguide A new low for mortgage rates wasn’t enough to stimulate new loan activity. But jumbo business managed a gain despite continued deterioration in the premium for jumbo financing. Record rates are set to rise in the next report. Mortgage loan originators were less busy this past week, pulling 3 percent fewer pricing inquiries than they [...]
Posted in Business Loans Tags: Business, Decline, June, loan activity, Mortech, Mortgage, mortgage business, mortgage loan originators, percent, premium, report mortgage Comments OffPurchase Financing Tumbles Despite Plunging Mortgage Rates
June 3rd, 2012 davidguide With purchase financing and adjustable-rate business leading the way, mortgage activity dropped during the holiday week. Meanwhile, mortgage rates continued their descent to depths not previously seen and are poised to establish even more new records. Loan originators pulled 9 percent fewer pricing inquiries than last week, leaving the U.S. Mortgage Market Index from Mortech [...]
Posted in Business Loans Tags: financing, leading the way, loan originators, market index, Mortech, Mortgage, mortgage activity, percent, Plunging, way Comments OffCiti Originations Sink
April 16th, 2012 davidguide Citigroup Inc., which disclosed plans to stop taking business from mortgage brokers, saw quarterly loan fundings tumble by nearly a third. But delinquency improved from the final quarter of last year. North American mortgage originations decreased 32 percent between the fourth-quarter 2011 and the first-quarter 2012, the New York-based financial services provider reported in its [...]
Posted in Business Loans Tags: citigroup inc, earnings data, financial services provider, Mortgage, mortgage originations, north american mortgage, Originations, percent, post, Sink, tumble Comments OffLoan Performance Continues Improving at Radian
March 7th, 2012 davidguide Delinquency has declined for two consecutive months at Radian Group Inc. While there was no month-over-month change in new polices written, activity more than doubled from the same month last year. The mortgage insurance company reported $2.0 billion in primary new insurance written during February. There was no change in business volume from January. View [...]
Posted in Business Loans Tags: Business, change, change in business, Delinquency, Inc., insurance, loan performance, Mortgage, mortgage insurance company, new insurance, radian group inc Comments OffAlmost a Third of All HAMPs in 5 Cities
March 3rd, 2012 davidguide Nearly one-third of all government loan modifications are in five metropolitan areas. Monthly U.S. activity sank to the lowest level on record based on the latest data. As of Jan. 31, there were 768,773 active permanent modifications completed under the Home Affordable Modification Program. A month earlier, the total was 762,839. The increase of 5,934 [...]
Posted in Business Loans Tags: Affordable, data, government loan, HAMPs, home, Loan, metropolitan areas, Mortgage, Total Comments OffCA Foreclosures Fall Despite National Increase
February 16th, 2012 davidguide U.S. foreclosure filings increased last month, though year-over-year performance has been on the mend each month for more than a year now. New filings fell, however, in California — the state with the most activity. Meanwhile, U.S. mortgage servicers completed fewer foreclosures than in December. There were 3 percent more U.S. properties owned by delinquent [...]
Posted in Business Loans Tags: delinquent borrowers, fall, Foreclosure, Foreclosures, Mortgage, National, percent, post, repossessions, State Comments Off
