Mortgage Bankers Association

With 30-year mortgage rates reaching a four-year high, loan application activity was lower this past week, according to the Mortgage Bankers Association.

Rising rates, largely tied to the stock market turmoil, took their toll on mortgage application volume during the past week.

There was an increase in total mortgage defaults during the fourth quarter but that rise has to be measured in context of what had been a favorable environment prior to the third-quarter storms.

Mortgage servicers should approach efforts to overhaul their compensated structure with caution, as changes to the status quo "could have ripple effects across the entire real estate finance industry," warned Mortgage Bankers Association Chairman David Motley.

From insights about borrower payment preferences to new automation assisting with natural disaster recovery efforts, here's a roundup of news coming out of the Mortgage Bankers Association Servicing Conference.

Even as rates hit their highest levels in nearly four years, mortgage application volume increased compared with one week earlier, according to the Mortgage Bankers Association.

Housing finance reformers are pushing full steam ahead to get a bill introduced before the political calendar makes passage nearly impossible.

From responding to natural disasters to emerging technology strategies, here's a look at six top trends on the agenda for the 2018 MBA Servicing Conference.

Rising rates suppressed total mortgage application activity, which decreased 2.6% from one week earlier, according to the Mortgage Bankers Association.

Rising mortgage rates have taken a toll on refinance lending and extended the lifecycle of existing loans. With new purchase originations also making portfolios larger, servicers must take steps to avoid capacity constraints.

More than 70% of women mortgage professionals have experienced sexual harassment in the workplace, but these incidents go drastically underreported, according to a recent Mortgage Bankers Association survey.

With compensation accounting for 80% of the cost to originate a mortgage, lenders are developing new strategies to attract and retain top talent, while keeping wage expenses in check.

Supporters of an unreleased bill to revamp the housing finance system say the plan strikes a middle ground that can gain support from both sides of the aisle.

Purchase loan applications were at their highest level in nearly eight years because of rising interest rates, according to the Mortgage Bankers Association.

Even as mortgage rates rose to their highest level since March, application activity increased from one week earlier, according to the Mortgage Bankers Association.

Loan applications for newly constructed homes slowed on a month-to-month basis in December as the storm-driven spike in volume ended.

Mortgage application volume started the year on the upswing because of higher refinance activity, even with a slight increase in rates.

There were fewer mortgage programs available to borrowers at the lower end of the credit spectrum in December, resulting in an overall decrease in credit availability.

Refinance volume fueled recent market gains by nonbank mortgage originators. But lower volume amid the shift to purchase lending has nonbanks trimming headcounts and may position banks to recapture market share.

Mortgage application volume decreased 2.8% during the last two weeks of 2017, according to the Mortgage Bankers Association.