Purpose and production channel matter in loan credit characteristics but the biggest difference maker is whether the mortgage has a government guarantee.
Mortgage brokers feasted on a growing crop of refinance business during the second quarter, pushing the wholesale channel to a 14.6% share of new first-lien mortgage originations.
Quicken was the market leader in retail lending with UWM taking top honors (by far) in the wholesale category. Wells Fargo was the top correspondent buyer in 2Q19…
Fannie Mae and Freddie Mac acquired $2.83 billion of reinsurance coverage through the first six months of the year, down 29.9% from the same period in 2018.
The volume of broker-originated FHA and VA refinance loans pooled in new Ginnie MBS jumped 94.1% from the first to the second quarter. Correspondent production saw the smallest gains among the three channels.
Purchase loans still accounted for over two-thirds of Ginnie loan deliveries, but the volume of incoming refinance loans had a slightly higher increase from June.