Originations

Mortgage application activity decreased 3% from one week earlier as rates for conventional loans continued to move higher, according to the Mortgage Bankers Association.

Some hopeful souls in Washington believe the commercial banking industry will return to originating and servicing higher-risk mortgages, but most banks are more likely to continue withdrawing from the sector.

As 30-year fixed-rate mortgages rose 30 basis points year-over-year, non-QM originations are estimated to grow 400% in 2019.

Independent mortgage banks have been instrumental in filling the void left by banks that have retreated from the home lending market since the Great Recession.

Plans to begin rating securitizations backed by fix-and-flip mortgages may help lenders create new capacity and satisfy growing demand for short-term financing of house flipping projects.

While Fannie Mae's multifamily origination volume took a step back from 2017's record high of $67 billion, its delegated underwriting and servicing program provided $65 billion in financing in 2018, led by Wells Fargo.

Mortgage industry hiring and new job appointments for the week ending Jan. 25.

Financial consultancy Richey May has purchased mortgage business analytics provider Amata Solutions in a deal that will help the acquiring company further build out the technology-consulting division it started last year.

Mortgage application activity decreased from one week earlier as rising interest rates cooled borrowers' interest in getting a loan, according to the Mortgage Bankers Association.

The deadline for the 2019 Top Producers has been extended to Friday, Feb. 22 at 6 p.m. EST. Loan officers are encouraged to take the survey and participate in the annual ranking program that recognizes the accomplishments and successes of the industry's best originators.