Wells Fargo and PNC Bank posted sharp declines in repurchases from the second quarter, though their year-to-date volumes were up from the first nine months of 2021. (Includes data chart.)
If lenders want to set themselves apart in an increasingly competitive purchase market, they will have to become experts in the non-QM space, according to officials at Deephaven Mortgage.
Nonprime servicing portfolios increased by 1.7% in the third quarter and 7.5% year-over-year. Only three of the top-10 players in the sector saw volumes decline from the second to the third quarter. (Includes data chart.
The adjustable-rate mortgage share of total production increased slightly in the third quarter, even though originations of the product drastically declined. (Includes data chart.)