Mortgage brokers have apparently reclaimed both their reputations and their market share in recent years according to Archana Pradhan, a risk management analyst for CoreLogic. She writes in the company's blog that brokers' share of the conventional conforming mortgage market hit 16 percent earlier this year. While this is only half its share before the housing crisis when it accounted for about one-third of originations, it has doubled since 2011. Mortgage brokers' reputation for loan quality took a substantial hit during and immediately after the crisis as foreclosure rates jumped. Their market share began to slip in 2008 as some lenders stopped offering credit through this channel. It had fallen to 7 percent by 2011. Now that their business is returning, Pradhan says their loans are performing

November 20, 2019 Download our Mobile App: Download our Mobile App: Housing News The Death of The Mortgage Broker Has Been Greatly Exaggerated Mortgage brokers have apparently reclaimed both their reputations and their market share in recent years according to Archana Pradhan, a risk management analyst for CoreLogic. She writes in the company's blog that brokers' share of the conventional c... (read more) Housing News MBA Says New Home Sales are on a Roll Applications for mortgages to purchase newly constructed homes surged in October and the Mortgage Bankers Association (MBA) is expecting that sales will follow suit. MBA's Builder Application Survey (BAS) shows those applications rose 9 percent from ... (read more) Rob Chrisman Construction, Non-QM Products; Lots Going on at Fannie/Freddie A new analysis from the real estate brokerage firm Redfin shows the typical homeowner in the United States now stays in their house for 13 years, five years more than they did in 2010. This lack of movement, especially among aging baby boomers, has h... (read more) MBS Commentary MBS Live Day Ahead: Fed Meeting Minutes Likely a Non-Event Bonds are on a roll at the moment with 5 of the last 6 trading days resulting in lower yields.  Rather than stand as some evidence of new strength in the bond market, this has more to do with technical correction as more than 60% of the trading ... (read more) Housing News Mortgage Applications Gain Momentum Despite Holiday Slump Despite the Veterans' Day holiday which shortened the work week of November 15, purchase mortgage applications gained momentum. The Mortgage Bankers Association said its Purchase Index rose 7 percent on a seasonally adjusted basis during the week alt... (read more) Mortgage Rate Watch Mortgage Rates Lowest Since Halloween Mortgage rates are in the midst of a winning streak of moderate size and duration. Specifically, rates have improved by at least an eighth of a percentage point for the average lender since the beginning of last week and have moved lower on all but o... (read more) Mortgage Rates Mortgage Rates Lowest Since Halloween 30 Yr. Fixed Rate 6.29% -0.16% Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% -0.16 0.00 15 Yr. Fixed 5.60% -0.21 0.00 30 Yr. FHA 5.95% -0.08 0.00 30 Yr. Jumbo 6.25% -0.15 0.00 7/6 SOFR ARM 5.59% -0.21 0.00 30 Yr. VA 5.97% -0.08 0.00 Updates Daily - Last Update: 9/5 15 Yr. Fixed Rate 5.60% -0.21% Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 MBS / Treasuries MBS Live Day Ahead: Fed Meeting Minutes Likely a Non-Event UMBS 30YR 5.5 101.09 -0.04 MBS Price Change UMBS 5.0 99.34 -0.13 UMBS 5.5 101.09 -0.04 UMBS 6.0 102.45 -0.04 GNMA 5.0 99.76 -0.07 GNMA 5.5 101.09 -0.03 GNMA 6.0 102.09 -0.04 Pricing as of: 9/7 11:21PM EST 10 Year US Treasury 4.0962 +0.0095 US Treasury Yield Change 2 YR Treasury 3.527 +0.009 5 YR Treasury 3.603 +0.014 7 YR Treasury 3.813 +0.013 10 YR Treasury 4.096 +0.010 30 YR Treasury 4.778 +0.008 Pricing as of: 9/7 11:21PM EST Latest Video US views Beijing trade demands as 'disproportionate': Sources Fed divided on future direction of inflation Single-family home rentals rising on low supply Bar high for Fed to raise rates: Economist Around the Web Calculated Risk Blog CAR on California October Housing: Sales up 1.9% YoY, Inventory down 18% Reuters Wall Street drops on trade deal delay concerns Reuters Fed minutes show rates on hold; not clear what would change that Reuters 'Phase One' U.S.-China trade deal may not be completed this year: trade sources NAHB Eye on Housing Multifamily Six-Year Streak of Gains Ended in 2018 Calculated Risk Blog AIA: "Architecture Billings Index Rebounds After Two Down Months" CNBC Fed's Lael Brainard says she wants to wait and see how economy is doing before moving rates again NAHB Eye on Housing Single-Family Built-for-Rent Market: 3Q19 CNBC China's economic slowdown amid US strength may cause it to strike a trade deal soon, Nomura says CNBC What the Fed meeting minutes could say about interest rates that Powell didn't say Bloomberg US, China Explore Tariff Relief Using Failed Proposal From May Reuters U.S. House approves bill to avert government shutdown this week Calculated Risk Blog Sacramento Housing in October: Sales Up 7.1% YoY, Active Inventory DOWN 25% YoY

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