Originations of expanded-credit mortgages failed to keep pace with total first-lien originations in the second quarter, according to a new ranking and analysis by Inside Nonconforming Markets. An estimated $11.40 billion of expanded-credit mortgages were originated in the second quarter, a 12.9 percent increase from the previous quarter. Total first-lien production increased by 17.1 percent during that time, according to Inside Mortgage Finance. Expanded ... [Includes one data chart]
Aggregators of jumbo mortgages have seen margins on their business decline as competition increases for the loans. Redwood Trust had $9.0 million in net income from its residential mortgage banking segment in the second quarter of 2018, down from $21.0 million in the previous period. Officials said the decline was due to lower margins during the second quarter. The real estate investment trust didn’t disclose specific figures other than to note that during the second quarter ...
The residential mortgage market took an unusual turn in the second quarter as retail production gained ground under conditions that generally favor third-party channels. [Includes four charts.]
Despite stiff headwinds, first-time homebuyers still play a key role in the mortgage market and that’s not expected to change anytime soon, according to industry insiders.
Quicken Loans this month lost one of its biggest broker-partners, C2 Financial Corp., laying the blame on BRAWL, United Wholesale Mortgage and UWM’s CEO Mat Ishbia.
With refinance business drying up, more lenders and loan aggregators are entering the expanded-credit market, launching non-qualified mortgage programs and other products.
The residential mortgage market took an unusual turn in the second quarter as retail production gained ground under conditions that generally favor third-party channels...
Freddie Mac Tuesday afternoon announced an approximate $1.45 billion Seasoned Loans Structured Transaction of a pool of seasoned reperforming loans, the largest SLST deal of this year...
The Conference of State Bank Supervisors recently announced that all states and U.S. territories now use a single, common exam to assess mortgage loan originators...
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