Origination

But the average amount for a purchase loan increased to an all-time high, showing the upper end of the housing market remains strong.

But the company sees reasons to be optimistic about the second half of the year, CEO and Chairman Michael Nierenberg said during its fourth quarter earnings call

Gains in consumer financial stability helped to decrease the rates of distressed home loans, but job creation is needed to make recovery sustainable, a CoreLogic report found.

The movement in the MBA’s credit availability index suggests that, amid forecasts of diminished refinancing, lenders want to accommodate consumers buying homes, but they aren’t yet ready to lend as freely as they did before the pandemic.

The mortgage industry’s technology emphasizes speed, but a surge in volume has elongated the closing process for many, which is problematic ahead of a potential seasonal uptick in more time-sensitive purchase loans.

Home loans accounted for the bulk of the industry’s lending gains in 2020, but inventory shortages in some markets and an uneven economic recovery may dim prospects this year.

While loan performance is improving in aggregate, some borrowers remained unaware of the relief available or were unable to access it, according to the Research Institute for Housing America.

Meanwhile at Essent, more loans exited the inventory in January than in December.

With low mortgage rates billowing demand as homebuying season approaches, consumer confidence for selling jumped in January, according to Fannie Mae.

As 2021 shapes up to be a robust year for mortgage volumes, local lenders discuss the 12 metro areas that are expected to get the most interest from buyers, according to Zillow.