The mortgage market had a stunning year in 2020, with closed-end originations increasing by 65.2% from the year prior, a Home Mortgage Disclosure Act (HMDA) report published by the Consumer Financial Protection Bureau this week disclosed. But some of the industry’s same problems remained in 2020.
According to the report, comprised of data provided by 4,472 financial institutions, the increase was predominantly driven by the refi wave, with originations jumping from 8.3 million in 2019 to 13.6 million in 2020.
The number of refi loans increased details ⇒
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