In The News – Page 72 – PROGRESS in Lending

December Mortgage Lock Data Reveals Year-Over-Year Increases Across All Loan Types Despite Seasonal Downturn

January 27, 2025 PROGRESS In Lending

Optimal Blue released its December 2024 Market Advantage mortgage data report, showcasing year-over-year (YoY) growth in mortgage activity, even as seasonal trends led to a month-over-month (MoM) decline in rate lock volumes. Overall, December mortgage lock volume was up 26% YoY, driven by an 18% increase in purchase locks, a 43% rise in cash-out refinances, and an 82% jump in rate-and-term refinances.

In The News Industry Trends

Study Finds IMBs Originated 83% Of All Single-Family Mortgages In 2024

January 26, 2025 PROGRESS In Lending

Community Home Lenders of America (CHLA) released its yearly research study report titled, “CHLA 2024 Report on Independent Mortgage Banks.” Here’s what it found:

Community Outreach In The News

MBA Opens Doors Launches Disaster Relief Program For Children’s Hospital Los Angeles

January 26, 2025 PROGRESS In Lending

The MBA Opens Doors Foundation (Opens Doors) launched the MBA Opens Doors Disaster Relief Program, which will provide an additional $100,000 to Children’s Hospital Los Angeles (CHLA) to support the children and families impacted by the Southern California wildfires.

Execs On The Move In The News

LERETA Announces Leadership Transition: Katie Brewer Named CEO As John Walsh Retires

January 23, 2025 PROGRESS In Lending

LERETA, LLC (“LERETA”) announced that Katie Brewer has been named Chief Executive Officer (“CEO”). Ms. Brewer succeeds John Walsh, Chief Executive Officer since 2015, who is retiring and will continue to serve on the firm’s Board of Directors.

Government Affairs In The News

MBA Calls On Senate To Confirm Scott Turner As HUD Secretary

January 23, 2025 PROGRESS In Lending

MBA’s President and CEO Bob Broeksmit, CMB, released the following statement regarding the Senate Banking, Housing, and Urban Affairs Committee’s vote on Scott Turner’s confirmation to serve as Secretary of the Department of Housing and Urban Development (HUD):

Applications In The News

Mortgage Applications Increased 0.1 Percent From One Week Earlier

January 22, 2025 PROGRESS In Lending

Mortgage applications increased 0.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 17, 2025.

Home Prices In The News

Profit Margins For Sellers Decrease For Second Straight Year

January 22, 2025 PROGRESS In Lending

ATTOM released its Year-End 2024 U.S. Home Sales Report, which shows that home sellers made a $122,500 profit on typical sales nationwide in 2024, generating a 53.8 percent return on investment.

Forbearance Data In The News

Share Of Mortgage Loans In Forbearance Decreases Slightly To 0.47% In December

January 21, 2025 PROGRESS In Lending

The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 3 basis points from 0.50% of servicers’ portfolio volume in the prior month to 0.47% as of December 31, 2024. According to MBA’s estimate, 235,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 8.5 million borrowers since March 2020.

Execs On The Move In The News

MBA Promotes Megan Booth To Vice President Of Commercial/Multifamily Policy

January 21, 2025 PROGRESS In Lending

The Mortgage Bankers Association (MBA) promoted Megan Booth to Vice President of Commercial/Multifamily Policy. In her new role, Booth will manage the development and execution of MBA members’ policy objectives and goals and will serve as a staff lead on federal and state regulatory issues pertaining to commercial real estate finance.

Affordability In The News

LenderLogix Q4 2024 Homebuyer Intelligence Report Data Indicates Possible Improvement In Affordability

January 20, 2025 PROGRESS In Lending

LenderLogix released the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home-buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process in the fourth quarter (Q4) of 2024. Here’s what the report concluded: