Warehouse lenders ended the first quarter of 2017 with an estimated $59.0 billion of commitments on their books, a 4.8 percent sequential decline, according to exclusive survey figures compiled by Inside Mortgage Finance. Compared to a year ago, commitments were up 13.5 percent. However, many nonbanks sign commitment deals but don’t always draw on the lines very heavily. A case in point was the first quarter: the drop in commitments was benign compared to the overall decline in originations. Industrywide, residential lending fell by 33.6 percent from the fourth quarter. The good news for the warehouse sector is...[Includes one data table]
As summer approaches, the mortgage mergers-and-acquisitions market is heating up – with mostly talk. However, soon that chatter may lead to actual deals. According to investment banking sources, at least three mid-sized nonbanks may pull the exit parachute soon, with offering books ready to follow. The identity of the three firms was not provided, but the firms are well known, said one source. Meanwhile, the list of possible buyers hasn’t changed...