Refinance

The share of purchase and refinance loans originated by nonbanks are at their highest point since at least 1995, according to an analysis of new Home Mortgage Disclosure Act data.

Bank of America is laying off an undisclosed number of technology and mortgage workers in Charlotte and elsewhere, the latest cuts this year to employees in such roles.

Mortgage application activity decreased 0.5% from one week earlier as a decline in refinance volume was only partially offset by an increase in purchases.

Consumers across all generations, from millennials to baby boomers, want more online and digital communication with their mortgage lender, according to a survey from Velocify.

The former president of a defunct Long Island, N.Y.-based national mortgage lender was sentenced in federal court in Central Islip to three years of probation and ordered to pay $20 million in restitution to taxpayers.

The percentage of newly originated loans that are used to refinance an existing mortgage could shrink dramatically in 2018 as rates rise and burnout continues.

Despite an uptick in interest rates, refinance loans held steady in August and closing rates reached a new 2017 high.

Mortgage application activity decreased from one week earlier due to normal seasonal trends, according to the Mortgage Bankers Association.

The shift to a purchase market and an increase in wholesale mortgage originations contributed to a nearly 17% year-over-year rise in fraud risk during the second quarter, according to CoreLogic.

Fannie Mae revised its estimates for 2017 origination volume upward this month, noting that it expects economic strengths to offset weakness in the market from recent hurricanes.