Expanded-credit mortgage originations declined by 8.0% in the third quarter, continuing a downward slide that started earlier this year. (Includes data table.)
Guild’s originations unit swung to profitability in the third quarter even as originations declined. Leaders of the nonbank said strong demand from correspondent buyers prompted changes in models used for calculating the value of lock commitments and mortgages held for sale.
As promised, CMG is once again adding to its retail branch network, this time in New England, thanks to its onboarding of staff from Shamrock Home Loans.
Declining volumes at large sellers in the third quarter shifted market share to small shops. United Wholesale Mortgage remained the top GSE loan seller during the quarter. (Includes two data charts.)