The rise in retail market share likely reflects the fact that smaller lenders, which are more likely to do retail lending exclusively, account for a growing share of GSE business.
About 90 percent of the housing markets in the U.S today are considered affordable, according to RealtyTrac. Speaking at a recent real estate conference in Miami, RealtyTrac Vice President Daren Blomquist said places like San Diego and Seattle are on the threshold of exceeding their historic affordability. …
Retail mortgage originations accounted for 61.0 percent of the single-family home loans securitized by Fannie Mae and Freddie Mac during the second quarter of 2015, according to a new Inside Mortgage Trends analysis. That was up from a 58.4 percent retail share during the first three months of the year, and it marked the highest retail share of new Fannie/Freddie business since the … [includes two data charts]
Commercial banks and thrifts reported just $996.7 million in single-family mortgage repurchases and indemnifications during the first quarter of 2015, according to a new Inside Mortgage Trends analysis of call report data. It was, by a nose, the lowest quarter repurchase total reported by the banking industry since regulators began collecting this data back in early 2008. In the third quarter of last year, bank repurchases … [includes one data chart]
Thanks to strong residential origination volumes this year, the desire to hire loan processors, underwriters and loan officers is particularly robust right now. According to a survey of mortgage industry officials by Inside Mortgage Trends, 31 percent of respondents said they need processors and underwriters more than any other employee type. Loan officers came in a somewhat close second at 27 percent. …
Two weeks ago, specialty servicer Wingspan Portfolio Services shuttered its Melbourne, FL, office, leaving 150 servicing workers without a job. But more bad news may be on the way for the once fast-growing “contract” servicer. According to industry officials close to the company, the privately held Wingspan is in need of new contracts – badly. …