Mortgage banking income was up in the second quarter but didn’t keep pace with big increases in loan origination volume and secondary market sales. Wells Fargo accounted for the lion’s share of the increased profitability.
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.