Anchor Loans and LendingHome are the largest lenders operating in the fix-and-flip space. An analysis of the most recent HMDA data suggests the firms are neck and neck in originations of short-term loans. (Includes data chart.)
Originations of ARMs increased during the third quarter but they didn’t keep pace with total first-lien production, prompting a loss of market share for the sector. Wells remained the top ARM lender. (Includes data chart.)
IO lending increased in the third quarter, with First Republic leading the pack. The bank held nearly $30 billion of IOs in portfolio as of September-end. (Includes data chart.)
The retail share of jumbo originations is up this year even with top-ranked Wells Fargo placing a greater emphasis on the correspondent channel. More than 80% of jumbos originated in the third quarter came through retail means. (Includes data chart.)
Among a group of 30 prominent servicers of jumbo mortgages, only three shrank their portfolios in the past year. Wells Fargo remained the top-ranked servicer as of September 30, though the bank lost some market share. (Includes data chart.)
The amount of outstanding subprime mortgages handled by a group of prominent servicers fell by 4.1% in 3Q19. Among the 15 processors, none increased their portfolios on a sequential basis. (Includes data chart.)
The parent company of United Wholesale Mortgage was the top originator of mortgages in prime non-agency MBS issued in the third quarter. Underwriting standards haven’t changed much in the past year. (Includes two data charts.)
The dollar volume of conforming jumbo mortgages included in GSE MBS increased sharply in the third quarter. Other noncore GSE business also expanded. (Includes data chart.)
Originations of higher-priced non-government mortgages increased by 11% in 2018. The loans can’t receive safe harbor QM status and many higher-priced mortgages are required to include escrow accounts. (Includes two data charts.)
Denial rates on jumbo mortgages varied in 2018. Denials of applications for purchase mortgages declined while those for refis increased. Denial rates also differed widely among banks and nonbanks. (Includes one data chart.)
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