The nation’s warehouse providers ended the first quarter with $63.0 billion of commitments on their books, a slight decline from yearend and a gain compared to March 2017, but the numbers mask some of the pain being felt in the sector. [Includes one data chart.]
Margins in the correspondent channel took a hit in the first quarter, according to officials at a number of large lenders. Some nonbanks with significant servicing portfolios are expecting profits to shift to the servicing segment as interest rates increase.
A top official at Arch Capital defended Freddie Mac’s new Integrated Mortgage Insurance (IMAGIN) credit-risk transfer program against charges that it creates an unlevel playing field.
Federal regulators broke with tradition this week and released annual Home Mortgage Disclosure Act data roughly four months earlier than they have in the past.
As of the end of March, Capital One handled a $25.78 billion servicing portfolio, making the firm the 49th largest servicer, according to Inside Mortgage Finance.