Retail mortgage lending continued to lose market share in the second half of 2018, mostly due to a surge in correspondent production. A new Inside Mortgage Trends analysis of mortgage-backed securities data shows that the retail share of loans sold to Fannie Mae, Freddie Mac and Ginnie Mae fell to 48.6 percent last year. During the fourth quarter, sales of retail-originated loans declined by 14.9 percent, the sharpest downturn among ... [Includes two data charts]
The flow of conventional mortgages with private mortgage insurance coverage into Fannie Mae and Freddie Mac mortgage-backed securities fell sharply in the fourth quarter – tracking a broader slump in purchase-mortgage business. [Includes three data charts.]
It was a busy week for channel and branch disgorgements with two national lenders announcing transactions they hope will prepare them for a difficult market in 2019.
The steady decline in interest rates over the past four weeks had begun to spark a tinge of optimism among mortgage bankers that 2019 might turn out to be halfway decent after all. Then the government shutdown happened.