The Market Composite Index, an overall measure of mortgage applications, rose from 611.3 to 631.3 on a seasonally adjusted basis during the week ended Jan. 26, according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey.On an unadjusted basis, applications increased 5.9% on the week and were up 0.7% from the level recorded a year earlier. The Purchase Index rose from 402.7 to 408.0 on a seasonally adjusted basis, while the Refinance Index rose from 1848.8 to 1940.2. Refinancings represented 47.4% of total applications, down from 47.8% the previous week, while adjustable-rate mortgages accounted for 21.4%, the MBA said. The average contract interest rate for 30-year fixed-rate mortgages rose from 6.22% to 6.29%, and points (including the origination fee) rose from 0.97 to 1.07 for loans with 80% loan-to-value ratios, the association reported. The MBA can be found online at http://www.mortgagebankers.org.
-
In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
49m ago -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
11h ago -
The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
11h ago -
Equity is entitled to a little over $70,000 worth of damages.
March 27 -
Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27 -
Deferrals are up but still haven't outpaced loan modifications in conservatorship-era foreclosure prevention, according to the Federal Housing Finance Agency.
March 27