Some 12.9% of purchase loans sold to Fannie and Freddie in the second quarter had credit scores ranging from 620 to 699, the highest such concentration on record. But loans with high credit scores accounted for a rising share of GSE refi business.
Originations are booming but the government’s latest reading on mortgage employment wasn’t exactly encouraging. Still, interviews conducted by Inside Mortgage Trends reveal that many shops are looking to hire.
TD Bank was the top volume gainer among residential lenders in the second quarter but barely made the top 50 volume ranking in the first half of the year. Moral of story: the bigger you are, the harder it is to post huge percentage gains.
Expiration of the GSE “patch” will shift more risk to private securities and away from Fannie and Freddie. But, according to CoreLogic, dismantling the loophole will impact millennial borrowers and retirees.
Among publicly traded mortgage shops, Lending Tree CEO Doug Lebda took home the most bacon last year: $42.3 million in total compensation. But what do CEOs at private firms earn? The answer is not simple.