While correspondent sales volume increased on an annual basis in 2020, two of the top five sellers posted diminished sales. Guaranteed Rate and loanDepot are less reliant on correspondent sales than the other top sellers. (Includes data chart.)
An increase in the refinance share of agency single-family business led to a decline in the correspondent channel's market share in the first quarter. (Includes two data charts.)
Retail production continued to gain market share in conventional-conforming lending, the biggest mortgage sector, but correspondent and broker share rose in the government and jumbo markets. (Includes two data charts.)
Bank acquisitions in the mortgage space have been few and far between the past few years. Still, officials at Western Alliance believe it makes perfect sense for the bank to acquire AmeriHome Mortgage.
The correspondent production channel boosted its share of loans delivered into agency MBS during the fourth quarter, but not enough to regain its former glory. (Includes two data charts.)
Banks and credit unions increased their mortgage production from the second to the third quarter, but not nearly as fast as state-licensed nonbanks. (Includes data chart.)
Correspondents increased their share in the conventional-conforming and government markets, as did wholesale-broker platforms. But TPO production was nearly shut out of the jumbo market. (Includes two data charts.)
The primary market looked a little more like normal in the third quarter, with correspondents and mortgage brokers regaining some ground. Traditional retail still accounted for an historically large share of production. (Includes six data charts.)
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