Jumbo mortgages

Last month, brokers anticipated local residential markets swinging, if ever so slightly, to give buyers more bargaining power.

The availability of mortgage credit jumped in November from the previous month as jumbo activity and refinancing in the government market increased, according to the Mortgage Bankers Association.

Mortgage credit availability increased in October from the previous month, as mortgage lenders increased their product offerings outside the government market, according to the Mortgage Bankers Association.

September's increase in mortgage credit availability was driven by the expansion of jumbo products to record levels, which overcame a retrenchment in both conforming and government programs, the Mortgage Bankers Association said.

Mortgage credit availability tightened in August by the most since the end of last year, even though falling interest rates sparked a strong uptick in refinancings, the Mortgage Bankers Association said.

A swell of refinance demand amid a low mortgage rate environment pushed lender profit margin outlooks to the highest level since the first quarter of 2015, according to Fannie Mae.

HSBC anticipates its mortgage underwriting volume ramping up significantly after recent initiatives to provide loan officers with more tools and time to address the complex needs of affluent customers, often from overseas.

Jumbo loan product availability continued climbing and reached an all-time high in July, but it wasn't enough to stop overall credit standards from tightening, according to the Mortgage Bankers Association.

With affordability still an issue despite falling interest rates and harnessed home value growth, lenders further loosened credit standards in June, according to the Mortgage Bankers Association.

Large banks had huge losses from originating mortgages in 2018 as costs were three times higher than similar-sized independent lenders, according to research conducted by Stratmor and the Mortgage Bankers Association.