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 1,873 sellers to the GSEs in the third quarter of 2014 and reports on their activity. You’ll find:

  • Ranking of the 1,873 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:

  • Who is making use of correspondents and brokers, and what type of business are those channels bringing in.
  • Who is lending to low FICO customers and what do the other loan demographics look like.
  • Who is doing a lot of purchase-money business and what kind of loans are they making.
  • By lender, what are the average FICO, DTI, LTV, size, refi share, and channel breakdown.
  • Whose business would match up well with yours to create a successful partnership.

From the 3Q14 report, you would learn…

  • Purchase-money loans now make up the majority of GSE sales, just over the halfway mark in 3Q at 54.76 percent. But the shift is seen more often among the smaller sellers. Among the top 20 sellers, 40 percent are still refi-heavy. Among the top 100, just 27 percent.
  • Looking for correspondent partners? These lenders are just a few of those that got the lion’s share of their loans from the correspondent channel: BB&T (66 percent), First Guaranty Mortgage Corp. (60 percent), First Bank Tennessee (76 percent), and Zions First National Bank (66 percent).
  • M&T Bank’s retail purchase-money loans were near mirror images of the market, with average loan value, loan-to-value ratio and FICO score hewing to the market averages. But the refinance loans sourced through its retail branches had looser underwriting than the norm, with LTV of 76.2 percent (market average: 68.0), average FICO of 721.7 (market average: 744.1) and debt-to-income of 33.7 percent (market average: 31.8).
  • In September, the loans that Prospect Mortgage sold to the GSEs had an average coupon of 4.660 percent. The rate for loans it generated from the retail channel was 4.406 percent. The rate on the purchase-money loans it made was 4.788 percent.

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 1,873 companies who sold loans to the GSEs in 3Q14….$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 will Fannie Mae’s and Freddie Mac’s new 97 LTV programs mean for your business?

It will give our business a big boost as there is a lot of pent up demand for the product.
It will have only a minor impact on our overall business as we already are doing high LTV business through FHA and some of our high LTV FHA business is likely to shift to Fannie and Freddie.
It won’t have any impact on our business as we plan to steer clear of all high LTV business – particularly in the GSE market.

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