Refinance

In light of the Federal Housing Administration's strong financial performance, now is not the time to "reduce the FHA's footprint," but rather to broaden the critical access to credit role it plays.

The outperformance of mortgage-backed securities versus U.S. Treasuries has extended for a third straight month into November, buoyed in part by a decline in volatility.

Mortgage application activity rose 1.5% compared with one week earlier as interest rates remained below 4%, according to the Mortgage Bankers Association.

Mortgage prepayment levels were at their highest in over six years during October, as existing homeowners took advantage of the lower rates to refinance, or to a lesser extent, purchase a new residence, Black Knight said.

River City Mortgage is staging an eight-state expansion of its footprint, and recently hired Carrington Mortgage Services President Raymond Brousseau to help oversee and direct its growth.

Mortgage lenders are operating in a refinance-dominated market again for the first time in years, but it may offer diminishing returns.

For the second consecutive week, mortgage application activity unusually moved in the same direction as interest rates, decreasing 2.2% from one week earlier, according to the Mortgage Bankers Association.

The Federal Housing Finance Agency has extended its deadline for investor comments on a proposal aimed at better aligning pooling practices for loans in uniform mortgage-backed securities.

With economic expansion expected to keep churning through at least the first half of next year, Fannie Mae upwardly revised its single-family mortgage origination outlook for 2019 and 2020.

Guild Mortgage CEO Mary Ann McGarry is giving up the president's title as the San Diego-based company continues its national expansion plans.