“Purchase activity also rebounded, even as supply constraints continue to slow the housing market. An almost 5 percent increase in government purchase applications drove most of last week’s gain while also tempering the recent growth in loan sizes. Purchase applications were still down 17 percent from a year ago, which was when the mortgage market started seeing large post-shutdown increases in activity.” --Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.

The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 12 basis points to 4.04% of servicers’ portfolio volume as of June 6 from 4.16% the prior week--the 15th consecutive week of declines.

MISMO®, the real estate finance industry's standards organization, launched an eMortgage Technology Certification program to assist lenders in identifying products that comply with industry standards.