Refinance

With the 10-year Treasury yield getting a boost due to Pfizer’s COVID-19 vaccine news this week, KBW predicts insurers and title underwriters will fare best as recovery continues.

Problems with self-service tools and inconsistent communication have damaged consumer perception of their lender, J.D. Power said.

The company, which earned $535 million in net income in 3Q20, has been prioritizing purchase volume and managing costs to account for a possible decline in originations next year.

Compared with the second quarter, the title insurer had 154,000 more orders opened and earned $89 per residential file.

Brookfield and JV partner Swig Co. are refinancing debt and cashing out $200M in equity in the iconic, sloped-base midtown Manhattan office tower.

Mortgage applications increased 3.8% from one week earlier as a drop in most loan interest rates brought on an increase in refinance activity, according to the Mortgage Bankers Association.

Meanwhile, the delinquency rate is up 89% year-over-year, according to Black Knight.

Researchers are increasingly focused on the risks related to owner-occupied loans with low balances and low-income properties with a limited number of renters.

Mortgage application fraud risk dropped drastically from 2019 with the spike in refinances, but the fallout from the coronavirus means next year could come with more risk, according to CoreLogic.

But for the first time in a month, fewer consumers refinanced into a government-guaranteed mortgage.