Mortgage originations by nonbanks have not only surged past those coming from regulated banks, but according to the Urban Institute (UI), they are helping to widen the credit box for agency and government loans . Where in 2013 banks originated 70 percent of new mortgages , this year nonbanks originated 60 percent . In an article in UI's Urban Wire blog, three analysts say that, while banks have been the traditional lender for most homebuyers, "the market turbulence of the past decade has spurred a significant restructuring of the mortgage finance industry, thrusting nonbanks-institutions that provide some banking services but are not regulated banks-into a dominant position as mortgage originators." UI's analysts, Karan Kaul, Bing Bai, and Linda Goodman, indicate in their article that the shift

September 6, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.37% +0.15%   6.13% 7.26% 15 Yr. Fixed 5.88% +0.13%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.11%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Sep 6, 2017 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.37% +0.15 0.00 15 Yr. Fixed 5.88% +0.13 0.00 30 Yr. FHA 6.05% +0.10 0.00 30 Yr. Jumbo 6.25% +0.11 0.00 7/6 SOFR ARM 5.77% +0.12 0.00 30 Yr. VA 6.07% +0.09 0.00 Updates Daily - Last Update: 9/18 Freddie Mac Rate Change Points 30 Yr. Fixed 6.26% -0.09 0.00 15 Yr. Fixed 5.41% -0.09 0.00 Updates Weekly - Last Update: 9/18 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.52 -0.06   95.05 100.47 UMBS 30YR 5.5 101.07 +0.04   97.47 101.61 10 YR Treasury 4.101 +0.020   3.706 4.780 MBS Live Day Ahead: Assessing Bigger Picture, Shorter-Term Risks For Now Wed, Sep 6, 2017 9:16AM Until the onset of brinksmanship with North Korea and the appearance of big, back-to-back Hurricanes, financial markets were more focused on long-term policy-related risk.  In terms of monetary policy, traders are keen to feel out the partic... (read more) MBS Live Recap: Perfect Storm Results in Bond Market Snowball Rally Tue, Sep 5, 2017 5:01PM Bonds rallied significantly today on a confluence of news.  Disparate events and headlines hit markets at just the right time and in just the right combination to catch bond traders on their heels.  We began discussing the imbalance of trading positions late last week.  Specifically, logic and technicals suggested a bounce toward higher yi... (read more) MBS Live Recap: Bonds Bounce as Debt Ceiling Issue Gains Traction Wed, Sep 6, 2017 4:56PM Bond markets began the day holding impressively sideways.  Why impressive?  Because there was a small laundry list of potential reasons for weakness.  This included:  Democratic congressional leaders announcing they w... (read more) MBS Price Change UMBS 4.5 97.49 -0.14 UMBS 5.0 99.53 -0.05 UMBS 5.5 101.05 +0.02 GNMA 4.5 97.52 -0.50 GNMA 5.0 99.76 -0.06 GNMA 5.5 100.96 +0.07 Pricing as of: 9/18 3:05PM EST US Treasury Yield Change 2 YR Treasury 3.570 +0.006 5 YR Treasury 3.663 +0.007 7 YR Treasury 3.853 +0.014 10 YR Treasury 4.104 +0.024 30 YR Treasury 4.720 +0.033 Pricing as of: 9/18 3:05PM EST Other News Getting a Loan is Easier Thanks to Non-Bank Lenders Wed, Sep 6, 2017 10:45AM Mortgage originations by nonbanks have not only surged past those coming from regulated banks, but according to the Urban Institute (UI), they are helping to widen the credit box for agency and government loans . Where in 2013 banks originated 70 percent of new mortgages , this year nonbanks originated 60 percent . In an article in UI's Urban Wire blog, thre... (read more) Refinancing Volume Picks Up as Rates Push 2017 Lows Wed, Sep 6, 2017 8:14AM A resurgence in refinancing drove the volume of mortgage applications higher during the week ended September 1. The Mortgage Bankers Association said its Market Composite Index, a measure of application volume, increased 3.3 percent on a seasonally adjusted basis when compared to the week ended August 25. On an unadjusted basis, the index increased by 2.0 pe... (read more) North Korea and Rates; Lender Disaster Updates - What Can Borrowers Do? Wed, Sep 6, 2017 9:20AM I receive my share of emails, and a portion of them ask me “in the weeds” questions about lenders, programs, and states (“Rob, hook me up with a wholesaler doing yurts in Missouri on 20 acres”). I always refer them to www.mortgageelements.com, which offers programs in the form of the periodic table. But other folks have fun with the p... (read more) Latest Video Yields dip lower as investors weigh looming debt ceiling fight What investors should take away from Fischer stepping down from Fed Lower mortgage rates push more borrowers to refinance, as Harvey mucks up t... 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