· On the strength of innovative technology in the form of Rocket Mortgage and a commitment to superior client service, Quicken Loans was able to originate $20.5 billion in home loan volume in the first quarter, outpacing its nearest competitor by more than $4 billion in loan volume.
What’s more: Even though rising rates on first-lien mortgages usually spurs more HELOC lending because people don’t want to refinance out of lower-rate loans, the volume of equity taken out.
Ginnie Mae must balance supervision with the scope of servicers’ risk Our basic belief remains that permanently accepting the pool-level status quo carries too great a risk of relegating the Ginnie Mae platform to second-class status behind the G-S-Es. And that could be detrimental to our mission and the missions of the federal housing programs we serve and support.
Total mortgage application volume rose 0.6% on a seasonally adjusted basis from the previous week. Volume was nearly 14 percent lower compared with the same week one year ago, according to the Mortgage Bankers Association, when lower interest rates sparked a refinance boom.
The average contract interest rate for 5/1 adjustable rate mortgages (ARMs) increased to 3.88 percent, up 10 basis points from the previous week, while points declined to 0.19 from 0.26. The ARM.
2018 predictions: Rates will rise, but loans will drop as home sales decline. The Mortgage Bankers Association reported a 4.9 percent decrease in loan application volume from the previous week.
“In fact, according to the Mortgage Bankers Association, overall mortgage application volume increased 23.5% for the week ending on January 4, 2019.
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