American Banker (01/27/11) P. 16 Collins, Brian
Lenders will originate $966 billion in single-family loans in 2011, 35 percent fewer than last year, the Mortgage Bankers Association predicts. Residential volume will fall to the lowest level since 2002 due to tight credit, rising mortgage rates and a refinancing slump; MBA chief economist Jay Brinkmann also cites loan-buyback demands that lenders are receiving from Fannie Mae and Freddie Mac. Purchase originations are projected to rise to $614 billion from $473 billion last year, but refinancings are expected to slide 66 percent to $352 billion (more)
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