The broker share of loans sold to Fannie and Freddie rose in the third quarter, while declining in new Ginnie business. Retail remained king, including an increase in the channel's share of agency purchase-mortgage business. (Includes two data charts.)
Retail lending reigned supreme in the second quarter as lenders facing an onslaught of consumer demand focused on the most efficient and profitable production strategy. (Includes two data charts.)
Heavy refinance lending pushed the retail share of second-quarter originations to a record 65.7%. Much of the decline in correspondent came from a handful of key players. (Includes six data charts.)
Correspondent production accounted for just 25% of loans sold to Fannie Mae, Freddie Mac and Ginnie Mae during the second quarter, down from 37.0% in the previous period. (Includes two data charts.)
The parent company of Quicken Loans splurged $905 million on marketing last year, helping the nonbank become the second largest mortgage lender. The firm is now ready to launch an IPO.