The surging broker channel is attributable to rapid growth at United Wholesale Mortgage, by far the largest platform in the business. According to IMFresearch, no other table-funder comes close.
The spate of M&A activity in the sector suggests that more deals could be in the works, given the attractive nature of being a subservicer compared to owning the servicing strip outright…
The $29.42 billion of refinance mortgages sold to Fannie Mae and Freddie Mac was up 30.2% from April and marked the biggest monthly volume since December 2017.
Noting the disparity, analysts at Wells Fargo Securities suggested that Google search trends provided a more realistic gauge of potential refi activity and prepayment speeds.
Commercial banks held a combined $1.673 trillion of MBS at the end of the first quarter, maintaining their position as the largest investor class in the market...
It was the weakest reading on home-equity originations since early 2015, when production of closed-end seconds and new borrowing on home-equity lines of credit totaled an estimated $38.0 billion.
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