GSE Seller Profile

The lion’s share of mortgage originations continue to find their way into Fannie Mae and Freddie Mac securities, making sales to the GSEs a good indicator of what is happening in the mortgage market as a whole.

In its quarterly report GSE Seller Profile, Inside Mortgage Finance examines GSE sales lender by lender—for every lender that made a sale to a GSE during the three-month period. You’ll have detailed information on where the loans are coming from—retail, correspondent or broker. You’ll have particulars on the loan demographics—FICO score, loan-to-value, debt-to-income and loan size averages. You’ll also see how the sales break down by product type—refinance or purchase. Dig deeper into the channel-specific data to get even more narrowly focused information on loan demographics and product type.

The particulars allow you to compare and contrast your results, as well as your products and processes, with the rest of the market to root out refinements and new approaches that will improve your own results.

The current report looks at the 2,282 sellers to the GSEs in the fourth quarter of 2013 and reports on their activity. You’ll find:

  • Ranking of the 2,282 sellers by volume with detail on their market share, volume by channel, volume by loan purpose and average loan characteristics.
  • An alphabetical listing with rank, total volume and market share and detail on each seller’s volume by channel, volume by loan purpose and average loan characteristics.
  • Separate rankings of GSE sellers by channel with channel volume and market share. These rankings provide separate detail on average credit score, DTI, LTV and loan size for refinance and purchase loans.
  • Average coupon for the Top 100 sellers for each month in the quarter. You’ll find coupon rate for all loans as well as for each purpose and each channel.

The data in the GSE Seller Profile are derived by IMF’s research team from Fannie Mae and Freddie Mac loan-level mortgage securities disclosures.

Find out who’s doing what to score more business. For example:

  • Whose production relies heavily on correspondent lending;
  • Where the high FICO scores are;
  • Where the business is getting done—where opportunities lie;
  • What’s the average size of the loans your competitors are making;
  • By lender, what are the average FICO, DTI, LTV, size, refi share, and channel breakdown;
  • Analyze production strategies for competitive advantage and partnering potential.

With the 4Q13 report, you would know…

  • The retail channel accounted for 59.5 percent of loans sold to the GSEs in 4Q2013. But sellers who made brokers their primary source include Caliber Funding (#23), Kinecta Federal Credit Union (#70), Live Well Financial (#837) and Foxboro Federal Savings (#1594). As for correspondents, they were the top source for NYCB Mortgage Company (#38), Illini Bank (#498), Franklin First Financial (#832), Citizens Deposit Bank & Trust (#1157) and others.
  • Average loan size for loans sold to the GSEs in 4Q2013 by Bank of Manhattan was $369,100—more than twice the aggregate average. Loans from Royal United Mortgage, where average loan size was $86,545, were close to half the size of the average.
  • All the retail loans sold to the GSEs by First Continental Mortgage Company, Network Mortgage Services and Capital International Financial were purchase loans.
  • Correspondent loans sold to the GSEs by Whidbey Island Bank had average FICO scores below 700, 694.5 for refinances and 657.0 for purchase loans.
  • Of the loans First Tennessee Bank sourced from brokers, the average debt-to-income ratio for purchase loans was 45.2 percent. For refis, it was 47.0 percent.
  • In December, Pacific Union Financial’s average coupon was 4.781 for retail loans, 4.595 for correspondent loans, and 4.621 for broker loans.

  • Choose the purchase option that best suits your needs:

    1. Subscribe to GSE Seller Profile—Receive quarterly updates in Excel™ format. With this option, you’ll always have current information on the strategies that others employ when dealing with Fannie Mae and Freddie Mac. You’ll also have full flexibility to sort and view the data in the way best suited to your research...$3,777 per year
    2. Purchase current-period GSE Seller Profile in Excel™ format—Delivered in spreadsheet format, you’ll have unlimited flexibility to sort and view the information from the most recent quarter….$1,897
    3. Purchase current-period GSE Seller Profile in PDF or in print—This report provides details for each of the 2,282 companies who sold loans to the GSEs in 4Q13….$897
    4. Purchase the GSE Seller Profile for past quarters in Excel™ format, PDF or print. (Not all formats available for all past periods.)


Poll

What do you think is the biggest hurdle to meeting the new QM standards in the CFPB’s ability-to-repay rule?

A debt-to-income (DTI) cap of 43%.

48%

A 3% cap on points and fees.

29%

An interest rate cap of the average prime offered rate (APOR) plus 1.5%.

23%

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