Refinance

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.

The U.S. is investigating lenders for allegedly pressuring veterans and members of the military into unneeded mortgage refinances — unsavory conduct that not only leads to higher consumer costs but has consequences for one of the world’s largest bond markets.

Not every housing market is dealing with an inventory shortage, as over one-third of respondents said there was excess supply in their local area, according to a First American Financial survey.

As mortgage rates dropped to new lows for the year, loan application volume increased from one week earlier, according to the Mortgage Bankers Association.

Overall mortgage lending increased by 20% in the second quarter but was still down from a year earlier, according to Black Knight Financial Services.

The average number of days to close a home loan for a millennial varied significantly by state in July as buyers continued competing for tight inventory, according to Ellie Mae.

Mortgage refinancing applications were more than half of the volume for the first time since January, according to the Mortgage Bankers Association.

Loan application defects were unchanged for July compared with June, the first time in eight months there has not been an increase, according to First American Financial Corp.

Mortgage applications decreased 2.3% from one week ago, according to the Mortgage Bankers Association.

If mortgage rates rise slowly as the economy continues to grow, the impact from the Fed’s unwind on housing likely will result in a decline in refinancing activity.

Fannie Mae and Freddie Mac will adjust their risk-sharing deals so that they can accommodate high loan-to-value loans refinanced under the programs replacing the Home Affordable Refinance Program.

There was very little change in mortgage application activity for the second consecutive week, according to the Mortgage Bankers Association.

The Home Affordable Refinance Program will now expire on Dec. 31, 2018, the FHFA said.

The share of refinance loans in the market bounced back slightly in July, according to Ellie Mae's latest monthly report.