Retail mortgage lending continued to lose market share in the second half of 2018, mostly due to a surge in correspondent production. A new Inside Mortgage Trends analysis of mortgage-backed securities data shows that the retail share of loans sold to Fannie Mae, Freddie Mac and Ginnie Mae fell to 48.6 percent last year. During the fourth quarter, sales of retail-originated loans declined by 14.9 percent, the sharpest downturn among ... [Includes two data charts]

The Money Source Inc., Melville, NY, is exiting the retail and wholesale channels to focus its resources on growing its servicing business and correspondent platform. In an interview with Inside Mortgage Trends, TMS President Ali Vafai noted that AmeriSave Mortgage Corp., Atlanta, bought the retail platform with the wholesale division landing elsewhere. The buyer of the latter has yet to be revealed and negotiations are continuing, said Vafai. No purchase price was disclosed on ...