Refinance

The number of homeowners likely to qualify for a refinance nearly doubled in a single week following the largest mortgage rate decline since the housing bubble burst, according to Black Knight.

Income-related mortgage application fraud risk has the potential to increase as competition rises among buyers during the peak spring season, First American said.

The digital lender rebranded its mortgage business as SoFi Home Loans about four months after it took a step back from real estate finance to redesign its processes.

There was a huge rise in mortgage refinance application activity due to the large drop in interest rates following last week's Federal Open Market Committee meeting.

If mortgage rates fall below 4%, it could more than double the dollar volume of agency mortgages exposed to refinancing incentive, analysts at Keefe, Bruyette & Woods found.

Freddie Mac reduced its 2019 origination projection in its latest monthly forecast, but strong coinciding housing numbers could suggest a future upward revision.

The Federal Reserve decision to shift into Treasuries could pull rates down and increase the prepayment speeds on mortgage-backed securities.

While fading 9.53% annually, February mortgage delinquencies posted a month-over-month increase for the first time in 12 years, according to Black Knight.

The home purchase loan share is up and closing times are down ahead of an expected healthy spring buying season, and declining mortgage rates could be a reason, according to Ellie Mae.

Fannie Mae estimates the average 30-year fixed-rate mortgage to hold at 4.4% through 2019 and 2020 due to the overall slowdown in the economy, according to the March housing forecast.

Mortgage applications increased last week but unlike the prior period, it was driven by refinance volume as interest rates fell to a one-year low, according to the Mortgage Bankers Association.

Mortgage lenders are optimistic about their business prospects during this spring's home purchase season even with the negative sentiments about demand in the previous three months, Fannie Mae said.

Purchase application volume increased, both week-to-week and year-over-year, as high-end buyers as well as those that need government loans entered the market, according to the Mortgage Bankers Association.

Agency mortgage-backed security prepayment speeds increased in February with much of the refinance activity coming from newer loans and those with high coupons, a report from Keefe, Bruyette & Woods said.

Despite the pool of refinance candidates shrinking 30% from late 2017, the incentive for mortgage borrowers to refi shot up at the start of the year on interest rate declines, according to Black Knight.

Hines Interests used the $755 million loan from Goldman and JPMorgan to take out a $505 million mortgage from two insurance companies, MetLife and New York LIfe.

Millennial homebuyers took advantage of a winter lull in interest rates, using the opportunity to refinance their loans, according to Ellie Mae.

Mortgage applications decreased 2.5% from one week earlier, although conventional purchase loan volume and amount is on the rise, according to the Mortgage Bankers Association.

Freddie Mac again increased its origination forecast for the next two years, as the rate drops of the past few months are expected to boost refinance volume.

A strong spring home purchase season is likely to further increase mortgage loan application defect risk, which already spiked in the past two months, according to First American.