Refinance

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

Consumer mortgage originator satisfaction scores fell in the second quarter as lenders had to work through the increase in application activity, a J.D. Power report said.

Mortgage applications increased from one week earlier, although conforming loan interest rates moved back over 4%, according to the Mortgage Bankers Association.

The sponsors of the Class A structure, deemed a “trophy asset” by Kroll Bond Rating Agency, are placing $825 million of a $1.2 billion whole loan into a transaction dubbed CPTS 2019-CPT.

The dollar volume of mortgages guaranteed by the Department of Veterans Affairs rose nearly 9% in the past fiscal year as interest-rate reduction refinancing loans surged nearly 75%.

The two newest private mortgage insurance companies had their best quarters ever for new insurance written, aided by the increase in consumers refinancing with less than 20% home equity.

It was activity at the upper end of the housing market that helped to keep mortgage application volume level with the previous week, the Mortgage Bankers Association said.

Ocwen Financial's cost-cutting initiatives are bearing fruit toward returning to profitability, management said, although the company's third-quarter loss was slightly higher than the same period one year ago.

Inventory shortages, favorable tax policies and a dearth of affordable options caused homeowners to increase the number of years lived in their home, according to a Redfin report.

Early payment mortgage defaults went to the highest level in nearly a decade, particularly among loans included in Ginnie Mae securities, a Black Knight report said.