Monday, July 20, 2009
Tuesday, July 14, 2009
- FHA is grabbing a larger share of the jumbo mortgage segment of the market.
- FHA jumbo refinance mortgages are outpacing FHA purchase mortgages
- The average mortgage for these jumbo FHA mortgages are now over $500,000
- The jumbo FHA are in the higher priced metropolitan areas and counties.
- The top 5 counties in the nation for FHA jumbo mortgages in 2009 are; 1) Los Angeles, CA; 2) Orange, CA; 3) San Diego, CA; 4) Kings (Brooklyn), NY; and 5) Queens, NY
- The county having the highest average jumbo FHA purchase mortgage was Marin, California ($595,000)
- The County having the highest average jumbo FHA refinance mortgage was Hunterdon, NJ ($448,000)
A one percent loan origination fee is not so bad after all!
Thursday, July 9, 2009
Thursday, July 2, 2009
Click on Chart for Larger View and More Statistics
FHA refinance mortgage originations reached a new monthly high in May. May also represents the sixth consecutive month of increases in the number of FHA refinance transactions. There were 83,458 FHA refinance mortgages in May and the total loan amounts were 16.48 billion dollars. This represents a 68 percent increase in the number of FHA refinance origination over the prior year. In May of 2008, there were 49,680 FHA refinance mortgages and a total refinance loan amount of 8.85 billion dollars. In April of this year there were 81,078 FHA refinance mortgages with total loan amounts of 15.79 billion dollars. The monthly increase over April 2009 was 3 percent.
FHA loan products gives mortgage lenders something to do!
Wednesday, July 1, 2009
The report above display FHA and VA mortgage lending in New Jersey for 2009 through April. Equity Source HL obtained a 6.89% market share with 896 refinance mortgage originations in 2009. This places Equity Source HL well ahead of Countrywide (now part of Bank of America) which had a market share of 4.38% with 616 FHA VA refinance mortgages in New Jersey.
Equity Source has 13 branch offices in New Jersey. The area of highest concentration of Equity Source's mortgage originations were found in Ocean County, New Jersey.