Originations

The coronavirus made it particularly tough for independent contractors and independent business owners to get home mortgages, but there are some signs that market may recover soon.

Mortgage applications increased 2.7% from one week earlier, as purchase volume is now outpacing the prior year's activity, according to the Mortgage Bankers Association.

Mortgage industry hiring and new job appointments for the week ending May 22.

With mortgage rates reaching all-time lows in the opening quarter, refinance originations were up in 97% of housing markets during 1Q, according to Attom Data Solutions.

Mortgage rates declined this past week, further continuing to help attract previously reluctant buyers back into the purchase market, according to Freddie Mac.

The lenders also are receiving warrants to purchase New Residential stock.

Mortgage applications decreased 2.6% from one week earlier, as tighter underwriting drove the refinance index to its lowest level since March, according to the Mortgage Bankers Association.

The sale completes First Choice affiliate Berkshire Hills Bancorp's exit from the mortgage origination business.

Pent-up demand is already pushing buyers to a gradual return to the market, the report asserts.

Mortgage industry hiring and new job appointments for the week ending May 15.