Home / Tag Archives: Refinance (page 10)

Tag Archives: Refinance

Prices Are Up, but Credit Must Be Addressed for Full Recovery

Even though President Obama and Governor Romney were criticized for evading housing issues when running for president, Clear Capital asserts the ""sprint"" in housing still spoke positively for Obama and assisted him in his recent re-election. But, now that Obama has won a second term, his administration is charged with leading phase two of the housing recovery, and this will happen by collaborating with the industry to reduce regulatory uncertainty, according to a Clear Capital report.

Read More »

About 29% of Refinancers Reduced Principal in Q3

The vast majority of homeowners who refinanced in Q3 2012 either maintained or slashed their loan debt, according to a release from Freddie Mac. In the year's third quarter, 83 percent of homeowners who refinanced their first-lien home mortgage either kept the same loan amount or lowered their principal balance by paying-in additional money at the closing table, the GSE revealed. Of those borrowers, 54 percent maintained about the same loan amount, while 29 percent reduced their principal balance.

Read More »

QE3 Will Increase Non-HARP Refi Activity for GSEs: KBW

Following FHFA's report on HARP refinances in August, Keefe, Bruyette & Woods (KBW) released its own analysis of the data and expressed anticipation for an even greater increase in non-HARP refinance activity. KBW explained FHFA data on HARP volume showed a 2.6 percent month-over-month increase in August, while non-HARP GSE refinance activity was up 23.6 percent.

Read More »

HARP on Track to Reach 1M Borrowers This Year

Nearly 99,000 homeowners refinanced their mortgages in August through the Home Affordable Refinance Program (HARP), the Federal Housing Finance Agency (FHFA) said Tuesday. Since the beginning of this year, when a broader group of borrowers were made eligible for the program, the federal government's HARP initiative has put 618,217 homeowners with loans owned by Fannie Mae or Freddie Mac into new mortgages with lower interest rates. According to FHFA, HARP is on target to reach a million borrowers in 2012.

Read More »

Reports: Refi Numbers Low Despite Low Mortgage Rates

It was no surprise when mortgage rates dropped in the weeks following the Fed's announcement that it would purchase $40 billion of agency mortgage-backed securities (MBS) each month until the labor market shows substantial improvement. Even with the record-low mortgage rates seen today, refinancing numbers are still not as high as expected. CoreLogic and Capital Economics highlighted different factors for the lack of refinancings in separate reports.

Read More »

Refinance Activity Surges Following Dip in Mortgage Rates

Mortgage applications saw increased activity in the last week of September, the Mortgage Bankers Association (MBA) reported. Mortgage application volume increased 16.6 percent in the week ending September 28, according to MBA's Mortgage Composite Index. Meanwhile, the Refinance Index increased 20 percent from a week before to its highest recorded level since April 2009.

Read More »

Foreclosures Decline but Remain High, Prepayments Surge: LPS

Foreclosure inventory continues to decline but remains more than eight times what it was in the decade prior to the housing crisis, according to the latest report from Lender Processing Services (LPS). Noncurrent loans make up 10.9 percent of all loans as of August, demonstrating a year-over-year change of -7.6 percent, according to LPS. As of August, the delinquency rate stands at 6.9 percent, and the foreclosure rate is 4.0 percent. LPS also noted prepayment activity was up ""significantly"" in August, nearing levels last reported in 2005.

Read More »

2011 Lending Data Reveals Declining Conventional, FHA Activity

The data showed that the total number of originated loans of all types and purposes fell by about 780,000 - 10 percent - from 2010 to 2011, partly because of a 13 percent decline in refinancings. The overall drop in refinancings was the result of declines in conventional and FHA activity, as data revealed that VA-related refinancing activity actually rose 41 percent.

Read More »

Your Daily Dose of DS News

Get the news you need, when you need it. Subscribe to the Daily Dose of DS News to receive each day’s most important default servicing news and market information, absolutely free of charge.