Correspondent Production Edges Ahead in 2Q06, Retail Stabilizes
August 17, 2006
The unexpected surge in mortgage lending during the second quarter of 2006 was fueled by solid rebounds in retail branches and correspondent production, where a power struggle among the indus-try’s top lenders continued to unfold. Retail production climbed 13.9 percent from the first three months of the year to an estimated $295 billion during the second quarter. Most of the retail volume increase came in traditional lending through branch offices...[Three data tables included]