MBA Hikes 2012 Origination Forecast by $200 Billion

Posted by: in Home Mortgage Online, tags: April, Boom, Driven, Excerpt, Loan Origination, Mortgage Bankers Association, Mortgage Originations, Nbsp, Pace, Purchase Loan, Refinancing, Time Mba, Trillion, Upward Revision

Brian Montgomery wrote an interesting post today on
Here?s a quick excerpt
The Mortgage Bankers Association (MBA) is projecting that mortgage originations in 2012 will be $200 billion higher than was originally anticipated.? Almost all of the increase will be coming from a boom in refinancing, but none of the additional originations are pegged to the Home Affordable Refinance Program (HARP 2.0.)?
MBA said it now expects that the industry will do $1.28 trillion in business in 2012, up from $1.26 trillion in 2011.? The new number is an upward revision of $188 billion from the number MBA put out in April, driven by an increase in the pace of refinance applications and originations. ??Refinancing is now expected to generate $870 billion during the year, virtually the same amount as in 2011.
At the same time, MBA revised its estimate of purchase loan origination downward by $6 billion to reflect lower than expected home prices and weaker than expected home sales.? This puts [...]

Read the rest of this great post here

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