Posts Tagged ‘lien’

Debt-to-Income Levels Could be Under Stress

Posted on November 28, 2017 by Laura Lam

Defaults for second lien mortgages and other types of consumer credit in October were up compared to the previous month, according to Standard & Poor’s and Experian’s indices.  “For the first time since January 2017, the default rate for autos, bank cards and mortgages all rose together,” said David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices. “The data does not suggest any unusual financial stress facing consumers which would explain the small, but across the board increases in default rates,” he said.  However, “the one concerning item, which might explain the default numbers, is recent…

Mortgage Origination Volume Falls 34%

Posted on June 07, 2017 by Laura Lam

Mortgage origination volume fell 34% in the first quarter compared with the fourth quarter, driven mainly by a 45% drop in refinances, according to Black Knight Financial Services’ Mortgage Monitor report.  Overall, lenders originated about $372 billion in first-lien mortgages in the first quarter – the lowest volume seen since the fourth quarter of 2014.  Purchase originations fell 21% compared with the fourth quarter but were up 3.0% compared with the first quarter of 2016, according to the report. An ATTOM Data Solutions report also showed that a little over 1.4 million loans (refinance and purchase loans) were originated in the…

Mortgage Origination Volume Hits 5-Year High

Posted on June 01, 2017 by Laura Lam

First lien originations jumped in 2016 to $2.1 trillion, the highest point since 2012, according to a report from the Urban Institute.  Of these originations, the share of portfolio originations increased to 30.9%, up from 30.2% in 2015, the report shows. The GSE share increased to 45.9%, up from 45.7% the previous year and the FHA and VA share decreased to 22.8%, down from 23.3% in 2015. The chart shows, unlike pre-crisis years, private-label securities no longer hold a significant share in the market. In both 2015 and 2016 the share of private-label securities totaled well below 1%. But despite the increase…