The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported the total number of loans now in forbearance decreased 4 basis points to 7.16 percent of servicers’ portfolio volume as of Aug. 30.
Mortgage applications increased 2.9 percent from one week earlier, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending Sept. 4.
Black Knight, Jacksonville, said record-low mortgage rates triggered a surge in refinancing in the second quarter, leading to the largest quarterly origination volume dating back to 2000.
MBA last week released its latest Quarterly Performance Report for the second quarter. The report showed a record-high average for net production profit of 167 bps ($4,548 per loan), as well as record-high average origination volume of $1.02 billion per company.