Correspondent production programs continued to gain ground in 2017 in all three major mortgage product categories, according to a new Inside Mortgage Trends analysis. Acquiring government-insured loans from correspondent lenders has been a huge part of the Ginnie Mae market in recent years, but it’s also picking up market share in conventional-conforming lending and, to a lesser extent, the jumbo arena. Government-insured lending declined by ... [Includes two data charts]
Banks and savings institutions reported $2.98 billion of mortgage repurchases or other indemnifications in 2017, a 6.6 percent decline from the previous year, according to a new Inside Mortgage Trends analysis of bank call reports. 2017 represented a new low in annual mortgage repurchase volume since banks and thrifts began reporting this data back in 2008. Most of the heavy damage occurred in the 2009-2011 period, when the banking industry ... [Includes one data chart]
The first quarter of 2018 comes to a close on Sunday, with many conventional lenders happy to see it end, but that doesn’t mean the origination downturn – courtesy of higher rates – was a horror show by any means. Certain shops posted modest production declines compared to the fourth quarter of 2017 and several increased lending compared to 1Q17, according to interviews conducted by Inside Mortgage Trends. But perhaps the biggest shot in the arm came from ...
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