The volume of loans delivered to Fannie Mae and Freddie Mac declined by 23.0% from January to February. The sequential decline seems to be a result of the 18% hike in conforming loan limits. (Includes two data charts.)
Sellers upended expectations by increasing loan deliveries to the GSEs in January. Nine of the top 10 sellers delivered more loans to Freddie Mac than Fannie Mae. (Includes two data charts.)
A report by Fitch Ratings forecasts a sharp drop in originations and declining GOS margins that will put pressure on earnings for smaller nonbank lenders.
Freddie Mac and MCT team up to help small- and mid-sized lenders make the switch from cash seller to guarantor. The transition impacts everything from pricing to operations.
Home Point and UWM earnings reports suggest the GSEs’ new limits on cash window purchases and caps on certain mortgage products took a bite out of the profits of some larger wholesalers.
The industry veteran joins a growing list of highly regarded members of GSE leadership who have recently decamped for greener pastures in private enterprise.
Although the FHLBanks market themselves as local lenders, this image doesn’t match their operations. Ten of the nation’s largest commercial banks account for about 30% of FHLBank advances.