Many of the big brand names in the mortgage industry have backpedaled from the correspondent and broker market, but a new Inside Mortgage Trends analysis of loan-level Fannie Mae and Freddie Mac data reveals a very deep and diverse group of loan aggregators still remains in the market. During the first nine months of 2013, there were 512 different companies that sold mortgages to the government-sponsored enterprises that had been originated by loan correspondents of mortgage brokers. Some 324 of ... [Includes data chart]

Mortgage brokers accounted for 9.6 percent of all loans originated in the the third quarter, one of the lowest readings ever, according to exclusive survey figures from Inside Mortgage Finance.

Tom Popik, research director of Campbell Surveys, said buyers have a number of incentives to pay with cash. “You get about a 10 percent discount on the purchase price,” he noted.

The purchase mortgage share of originations is expected to increase significantly, from 30 percent in 2012 to 79 percent in 2015, according to Freddie Mac.

Due-diligence firms, which had hoped to prosper with the return of non-agency jumbo lending, have shown little growth in the non-agency space during the second half of the year.

RFC is privately held. One of its top executives is Barry Habib, a well-known mortgage trainer who has worked at GMAC Mortgage and other shops during his career.

One lender that operates in the Irvine area noted that his firm has received several resumes from former Rushmore workers.

Mortgage professionals who work the M&A trade contend that interest in residential finance is not waning in the least, but potential buyers are being a bit more choosey these days.

It is unclear how much money is needed to recapitalize RMIC, which is currently in a run-off mode, but Old Republic plans to contribute up to $50 million and raise additional funds in the capital markets to resurrect its MI subsidiaries.

The FHA is working to create a quality-assurance framework with enhanced reporting built around QA results as well as a refined approach to identifying underwriting defects, according to a top agency official. There is much uncertainty in the mortgage market today and one way to address that is to create a clear framework for lenders explaining FHA’s view of underwriting defects, how they are defined as well as their consequences, said Charles Coulter, deputy assistant secretary for housing with the Department of Housing and Urban Development. Speaking at the recent Mortgage Bankers Association annual convention, Coulter said the ...