Warehouse lending consultants told IMFnews that many originators turned profitable after the first quarter, but are not making as much as they earned this time last year.
The VA home loan guaranty program also is building market share, with $25.52 billion of new business written during the second quarter, a 36 percent increase from early 2014.
A diverse group of 31 lenders tracked by Inside Mortgage Trends reported a combined $4.13 billion in mortgage banking income during the second quarter, up 32.7 percent from the first three months of 2014.
Mortgage origination volume was up in all three major production channels during the second quarter of 2014, with a slight shift in market share toward the retail channel as well as to brokers, according to a new Inside Mortgage Finance analysis and ranking.
JPMorgan Chase and Wells Fargo have both paid major settlements regarding FHA lending, and both have curtailed their participation in the program, according to a new analysis of Ginnie Mae data by Inside FHA Lending.