As feared by the residential finance industry, an increase in upfront mortgage insurance premiums is hurting participation in the FHA program by first-time buyers.
On a combined basis, the nine lender/servicers tracked by Inside Mortgage Trends generated $243 billion in single-family mortgages during the second quarter, a little less than half the entire market.
S&P has been the top non-agency MBS rating agency over the years but DBRS captured the title in 2012 with 55 percent of rated transactions, according to Inside MBS & ABS.
Fitch has determined that loans originated through a direct retail channel have a lower default risk than those originated through brokers or correspondents.
Both sides of the mortgage banking business posted modest gains in profitability during the second quarter of 2013, according to a new analysis by Inside Mortgage Trends of earnings reports from nine lenders. The group reported a total of $4.34 billion in production-related income during the second quarter, up 2.8 percent from the first three months of the year. That’s a relatively strong showing given that their total origination volume increased by just 0.7 percent ... [Includes one data chart]
A fresh batch of earnings reports from 15 major mortgage lenders underscored the strength and breadth of the industry’s financial success in the second quarter of 2013. A group of 15 lenders, including a number of nonbanks and regional banks that typically report somewhat later in the earnings cycle, posted a combined $794.8 million in earnings from their mortgage banking operations during the second quarter, according to a new Inside Mortgage Trends analysis. That was up ... [Includes one data chart]
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