First-time homebuyers have fueled a surge in home sales in the last two years, and the trend is continuing into 2017, according to a new report on the first-time homebuyer market from Genworth Mortgage Insurance. The report focused on mortgage origination data from more than 20 million first-time homebuyers over the past 24 years, with some interesting findings. Approximately 85 percent of the overall increase in home sales over the past two years was...
The retail production channel continued to churn out an unusually large volume of refinance loans during the first quarter of 2017, according to an Inside Mortgage Trends analysis of loan-level data on mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae during the period. Some 60.5 percent of retail originations were refinance loans, compared to just 37.6 percent of correspondent production. The analysis excluded modified loans, mortgages with no identified channel and loans more…
The market for mortgage mergers and acquisitions is beginning to heat up with talk about who’s in – and who might be out. According to investment banking officials speaking under the condition they not be identified, Caliber Home Loans and Flagstar Bancorp continue to make their intentions known as buyers. “Caliber is looking to make a big splash,” noted one advisor who said he’s been contacted by the privately held lender. “And they have money behind them too.” That “money” would be...
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