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]
Under RESPA, servicers are generally required to consider borrowers for loss mitigation if the servicer receives a loss mitigation application at least 37 days before a scheduled foreclosure sale.
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.