As recently as three years ago, few companies were willing to finance originations of nonprime mortgages, either via warehouse funding or acquiring the paper as whole loans. Daniel Perl, CEO of Citadel Servicing, said there are currently a number of Wall Street companies and other firms that will provide a certain amount of liquidity for one to three years, while demand for whole loans and MBS is also increasing. “There’s a lot to be said for this market today that you couldn’t say three years ago,” he said earlier this month during a webinar hosted by Inside Mortgage Finance. Tom Hutchens, a senior vice president of sales and marketing at Angel Oak Mortgage Solutions, said...
A strong tide of refinance activity lifted mortgage origination volume in 2015, according to a new Inside Mortgage Trends analysis of Home Mortgage Disclosure Act data released late this week by federal regulators. Aggregate national data released by the Federal Financial Institutions Examination Council show a total of $1.651 trillion in first-lien mortgage originations for home purchase and refinance. That was up 32.9 percent from 2014 but failed to ... [Includes one data chart]
Mortgages originated through the retail channel tended to have higher credit scores and were more likely to be refinance loans than those produced by third-party originators, according to a new Inside Mortgage Trends analysis of agency mortgage-backed securities disclosures. Fannie Mae, Freddie Mac and Ginnie Mae securitized a total of $320.9 billion retail-originated loans during the first six months of 2016, excluding modified loans and those for ... [Includes two data charts]
The volume of originations by state-licensed companies, number of active loan originators and number of mortgage companies all increased in the second quarter, according to an Inside Mortgage Trends analysis of data from the Conference of State Bank Supervisors. State-licensed lenders reported $266.55 billion in originations during the second quarter of 2016 (excluding reverse mortgages), marking the highest quarterly volume since the state regulators started collecting ...