Refinance

The percentage of refinances grew to 40% of all closed loans in December, according to Ellie Mae.

Even as mortgage rates rose to their highest level since March, application activity increased from one week earlier, according to the Mortgage Bankers Association.

Mortgage application volume started the year on the upswing because of higher refinance activity, even with a slight increase in rates.

There were fewer mortgage programs available to borrowers at the lower end of the credit spectrum in December, resulting in an overall decrease in credit availability.

Homeowners can tap into more home equity than ever before, but deciding between a home equity line of credit and cash out refinance mortgage has gotten more complicated following recently passed tax reforms.

Refinance volume fueled recent market gains by nonbank mortgage originators. But lower volume amid the shift to purchase lending has nonbanks trimming headcounts and may position banks to recapture market share.

Mortgage application volume decreased 2.8% during the last two weeks of 2017, according to the Mortgage Bankers Association.

The average credit score of loans made to members of the millennial generation were a little lower than they were a year ago, according to Ellie Mae.

After surging earlier in the year, the number of mortgage loan application defects remained flat in November, a positive sign when it comes to fraud incidents going forward.

From consolidation to tech innovation, here's a look at some of the top challenges and trends that mortgage executives from lenders, servicers and vendors are focused on for 2018.