MBA Hikes 2012 Origination Forecast by $200 Billion
Posted To: MND NewsWire
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…(read more)
