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Inside Mortgage Trends

July 12, 2024

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Credit Scores on GSE Deliveries Increase in Second Quarter

Purchase mortgages continued to dominate deliveries to the GSEs in the second quarter and the share of purchase mortgages with credit scores of 740 or above increased compared with the first quarter. (Includes two data tables.) Read More

Loans Without MI Gain Share in the Second Quarter

Primary MI lost market share in the agency market in the second quarter in both purchase mortgages and refis. Among loans in agency MBS with some form of MI, three states combined to account for slightly more than 30% of total volume in the second quarter. (Includes two data tables.) Read More

Loan Originators Advised to Prepare for More Volume

Despite inventory challenges, officials at Flagstar are hopeful that an expected rate cut will help boost mortgage originations. Read More

Refis Increasing Among Recently Originated Loans

Borrowers who obtained mortgages in recent years are prime targets for refis as interest rates decline. Read More

More Frequent Floods Increase Federal Mortgage Subsidy

Researchers find that the climate-related increase in flood damage will boost the cost of subsidizing federal mortgage programs by 44% over the next 30 years. That doesn’t include the costs to homeowners, lenders, insurers or MBS investors. Read More

Lennar’s Home Sale Incentives Increase in Second Quarter

In some parts of the country, the giant home builder shelled out incentives of as much as $81,700 per home delivered, most of that in the form of interest rate buydowns. Read More

Wells’ Cross-Selling Scandal Impacted Mortgage Business

The bank experienced an uptick in mortgage-related complaints following the scandal, even though mortgage products weren’t part of the issue, according to a new research paper. Read More

Grapevine: Locks Level in June; FoA Downgraded on Debt Move

Locks declined in June but, when controlling for the difference in business days compared with May, the decline vanishes; Fitch downgraded its long-term issuer default rating on Finance of America Companies to C; talent management topped cost cutting in Fannie’s latest survey of mortgage execs’ priorities; MISMO forms group focused on AI. Read More

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