|ARM Biz Rises as Share Balloons, Fixed Biz Falls|
Adjustable-rate mortgage business climbed as ARMs accounted for one-in-five new transactions. But weekly fixed-rate business was lower. The jumbo-conforming spread widened, and government activity sank.
Massive Gov Overhaul Impacts USDA Rural Housing
A sweeping consolidation of the federal government proposed by the Donald J. Trump administration would have government-backed rural housing finance changing agencies.
New Low for Refi Share as Lending Tightens
As the share of conventional business has grown at the expense of government-insured business over the past year, lending risk tightened and refinance share fell to a new low.
Acceleration in Weekly Mortgage Applications
A nice improvement in the volume of mortgage applications was recorded for last week. Even more impressive was the rise in applications for loans to refinance.
Agency MSRs Up for Auction
A buyer is being sought to acquire the servicing on a small portfolio of agency loans that are primarily concentrated in Illinois.
Bids Sought for Agency MSRs
Bids are being solicited for servicing on single-family loans backed by the housing finance agencies. The mortgages have a two-state concentration.
Ginnie Issuance Up But Jumbo Down, HMBS Plunges
|Weekly Mortgage Business Increases|
A week-over-week decline in new mortgage activity was spearheaded by new conventional lending. The overall decline was contrasted by jumbo business, which recorded a gain. Government activity slowed as government share thinned.
While overall securitizations on behalf of the Government National Mortgage Association, made a monthly move up, jumbo issuance declined and reverse mortgage issuance sank.
Mortgage Applications Fall as Gov Share Widens
A weekly reduction was recorded for the volume of mortgage applications. Jumbo rates grew more attractive, and government share widened.
FHA Production Holds, Could Accelerate
There was little change in monthly endorsements by the Federal Housing Administration, though business is poised for an increase. Delinquency improved, and commercial endorsements moved higher.