Wells Fargo reported an 11.7 percent increase in its conventional-conforming originations during the first quarter, but the company’s GSE loan sales fell 12.2 percent on a sequential basis – quite a differential.
Production of loans with FHA, VA and rural housing guaranties held up a little better than the other sectors, with estimated originations slipping 1.0 percent from the fourth quarter.
How disruptive were MSR ‘marks’? The nine nonbank lenders tracked by Inside Mortgage Trends reported a combined $510.0 million loss in the first quarter…
“The QM rule needs to stand on its own two feet … The FHFA should not be in charge of setting national mortgage underwriting,” said MBA chief Dave Stevens.