Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $3,738 on each loan they originated in the fourth quarter down from a reported gain of $5,535 per loan in the third quarter, according to the Mortgage Bankers Association’s latest Quarterly Mortgage Bankers Performance Report.
Steadily rising mortgage interest rates reached a nine-month high last week, putting the buzzkill on refinance activity, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending March 19.
Historically, February has never been a big month for home sales—it’s cold, the weather is unpredictable and it’s, well, February. But during the hottest—and strangest—housing winter in memory, could this February also defy logic.
The Mortgage Bankers Association and a broad coalition of more than 100 national and regional trade associations and community support groups urged Congress to pass S. 5061, the Housing Supply and Affordability Act, a bipartisan bill that would authorize $1.5 billion over five years for federal grants to local governments that commit to increase their supply of local housing.
The Mortgage Bankers Association on Monday asked for a meeting with Treasury and Federal Housing Finance Agency officials to address MBA member concerns over newly imposed limits on government-sponsored enterprise operations that could cause potential disruptions to the housing finance system.