The U.S. mortgage market produced an estimated $580.0 billion of first-lien originations during the third quarter of 2016, according to a new Inside Mortgage Finance analysis and ranking. That was up 13.7 percent from the second quarter, and it marked the strongest origination cycle since the fourth quarter of 2012, when $584.0 billion of new loans flowed through the pipes. The robust third quarter brought year-to-date originations to $1.470 trillion, up 8.9 percent from the first nine months of 2015. Lender feedback and agency mortgage-backed securities data suggest...[Includes two data tables]
The ICBA noted that community banks have invested heavily in complying with the disclosure rules, but the complexity of the requirements has made it inevitable that some will be found non-compliant.
The higher purchase-money estimate – released at the MBA annual in Boston – is predicated on stronger household formations coupled with employment growth and rising wages.
Ocwen, which in the past has been sanctioned by regulators for some of it servicing practices, also disclosed $10.0 million of additional reserves for a potential California regulatory settlement and $7.0 million of incremental reserves for a previously disclosed letter dating issue.
RSS