The relatively strong mortgage origination volume late in 2016 propped up production levels in all three major channels, according to a new Inside Mortgage Finance ranking and analysis. Mortgage brokers saw the biggest decline in volume during the fourth quarter, as production slipped 6.7 percent from the previous three-month cycle to an estimated $56.0 billion. But even with the late-year decline, the wholesale-broker market had...[Includes four data tables]
The Angel Oak family of mortgage lenders finished 2016 with roughly $700 million of nonprime/non-QM originations, according to officials at the company.
Market watchers must be wondering just how long investors will continue to believe in the GSE “bet” made by hedge fund manager Pershing Square Capital Management.
Consequently, top-tier banks that offered FHA-insured mortgages have opted to either restrict their government business or exit the program altogether…