Skip to main content

Dreary Week for Mortgage Application Activity

Phil Hall
May 17, 2017
The new data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey was mostly desultory.

The new data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey was mostly desultory.  
 
The Market Composite Index decreased 4.1 percent on a seasonally adjusted basis and dropped by four percent on an unadjusted basis from one week earlier. On an unadjusted basis, the Index decreased four percent compared with the previous week. Both the seasonally adjusted and the unadjusted Purchase Index dipped by three percent from one week earlier, although the latter was nine percent higher than the same week one year ago. The Refinance Index took a six percent tumble from the previous week as the refinance share of mortgage activity decreased to 41.1 percent of total applications, the lowest level since September 2008, from 41.9 percent the previous week.
 
Among the federal programs the FHA share of total applications increased to 10.6 percent from 10.5 percent the week prior, but the VA share of total applications decreased to 10.7 percent from 10.8 percent and the USDA share of total applications remained unchanged at 0.8 percent.

 
Ocwen Financial To Acquire Reverse Mortgage Servicing Platform

Ocwen Financial Corporation's wholly-owned subsidiary, PHH Mortgage Corporation will acquire RMS' reverse mortgage servicing platform.

Industry News
Jun 18, 2021
UniteCT Emergency Rental Assistance Succeeds

Thanks to the successful launch of the UniteCT program, emergency rental assistance funds are helping Connecticut residents maintain housing.

Industry News
Jun 17, 2021
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021
CFPB New Rule Prevents Predatory Lending To Military Service Members

The CFPB stipulates its authority to examine supervised financial institutions for risk to active duty servicemembers and their dependents.

Industry News
Jun 16, 2021
Inventory Begins A Slow Recovery

Inventory grew 3.9% from April to May, according to Zillow's latest Market Report, after a year of steady decline.

Industry News
Jun 16, 2021