Findings by HUD that mortgages with DPA perform worse than other loans fail to include important controls, according to research published by the St. Louis Fed. In other words, downpayment assistance loans aren't so risky after all.
Nonbank mortgage lenders and depositories live in a different world. Right? Yes and no. Inside Mortgage Trends ranks the top 20 home lenders by institution type. (Includes two data charts.)
Flagstar increased its servicing portfolio by about 50% on an annual basis as of the end of September while no other bank servicer in the top 20 posted double digit gains.
In January, the origination forecast for 2019 looked bleak but that was before rates began their relentless descent. Today? Optimism abounds with several shops reporting strong lending results for 3Q19.
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.
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