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As can be seen from the graph,rnCoreLogic’s estimates regarding purchase money, refinancing, and total dollarrnvolumes have fairly closely tracked the numbers put forth through HMDA. Therncompany said that on average its estimate is within 1 percent of the HMDArnnumbers.  This year the company’srnestimates is that the number of mortgage originations in 2014 fell by 30rnpercent from 2013 and the dollar volume was down by 27 percent.  CoreLogic projects therefore that HMDA datarnwill peg total originations at a minimum of $1.28 trillion. </p

Not all lenders are required to reportrnHMDA data but most analysts estimate that 95 percent of the mortgage market isrncovered.  Taking into account thisrnrelatively small under coverage, CoreLogic puts total originations at aroundrn$1.36 trillion.  </p

The drop in originations was attributablernto a decline in refinancing.  ThernCoreLogic data puts the decrease in numbers of refinances at 49 percent and inrndollar volume by 47 percent.  Purchasernmoney mortgages increased slightly, 5 percent by number and 7 percent by dollarrnvolume, but far from enough to compensate for the refinancing shortfall.  CoreLogic put the increase in purchasernoriginations to a 3 percentage point drop in cash purchases and an increase inrnhome value as measured by its own Home Price Index of 7.6 percent.</p

CoreLogic derives its originationrnestimates for public records deed information. From this the company is ablernto determine if there was a mortgage related with a sale and the amount of thernmortgage.

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