GSE Seller Profile: 3Q15

Although overall MBS volume was down, lenders delivered a healthy $115.16 billion of purchase-money mortgages to the GSEs during the third quarter. That was up 30.2 percent from the previous period and represented the strongest quarter in GSE purchase-mortgage activity since Fannie and Freddie were put in conservatorship seven years ago.

Purchase-mortgage business almost always drops off in the fourth quarter, but 2015 is shaping up to be the strongest year since the housing market collapse.

Who's making the most of this upswing in purchase mortgages and how did their GSE business look? Inside Mortgage Finance’s GSE Seller Profile examines the GSE sales at every institution that sold to Fannie or Freddie in 3Q15, from #1 Wells Fargo to #1832 Delta Community Credit Union. You’ll have detailed information on where each seller is sourcing its loans—retail, correspondent or broker. You’ll have particulars on the loan demographics—FICO score, loan-to-value, debt-to-income and loan size averages. You’ll also see how the sales break down by product type—refinance or purchase. Dig deeper into the channel-specific data to get even more narrowly focused information on loan demographics and product type.

The particulars allow you to compare and contrast your results, as well as your products and processes, with the rest of the market to root out refinements and new approaches that will improve your own results.

From the third quarter 2015 report, you'd learn:

  • Huntington National Bank sold $647.7 million in loans to the GSEs in 3Q, making it the 57th largest seller. It used all three channels to source its loans, with $501.2M coming via retail, $108.9M from correspondents, and $37.6M from brokers. Some 57.6 percent of the loans were for home purchase, slightly higher than the market average of 52.4 percent.
    Get these details, plus underwriting characteristics, for 1,831 other sellers.
  • Of the $150 million in loans Guardian Mortgage Co. (#155) sold to Fannie and Freddie in 3Q, $91.1M were sourced through correspondents. For the $62.4M in purchase mortgages brought to Guardian by correspondents, the average FICO score was 755.9, average debt-to-income ratio was 32.3 and average loan-to-value ratio was 78.6.
    Determine who, among the 1,832 sellers active in 3Q, might be a good partner for you.
  • Crown Mortgage Company and San Francisco Fire Credit Union each sold $13.0M in loans from the retail channel to the GSEs in the third quarter. Crown’s loans were primarily purchase loans ($10.3M) and loan sizes averaged $154,518 for refis and $175,400 for purchase loans. At the San Francisco Fire CU, the loans were mostly for refinance ($11.4M) and the loan size was nearly double that of Crown’s: $308,989 for refis, $305,800 for purchase loans.
    Compare and contrast more than 1,800 sellers, every institution that sold a loan to either Fannie or Freddie during the quarter.

The current report looks at the 1,832 sellers to the GSEs in the third quarter of 2015 and reports on their activity. You’ll find:

  • Ranking of the 1,832 sellers by volume with detail on their market share, volume by channel, volume by loan purpose and average loan characteristics.
  • An alphabetical listing with rank, total volume and market share and detail on each seller’s volume by channel, volume by loan purpose and average loan characteristics.
  • Separate rankings of GSE sellers by channel with channel volume and market share. These rankings provide separate detail on average credit score, DTI, LTV and loan size for refinance and purchase loans.
  • Average coupon for the Top 100 sellers for each month in the quarter. You’ll find coupon rate for all loans as well as for each purpose and each channel.

The data in the GSE Seller Profile are derived by IMF’s research team from Fannie Mae and Freddie Mac loan-level mortgage securities disclosures.

Find out who’s doing what to score more business. For example:

  • Who is making use of correspondents and brokers, and what type of business are those channels bringing in;
  • Who is lending to low FICO customers and what do the other loan demographics look like;
  • Who is doing a lot of purchase-money business and what kind of loans are they making;
  • Where is the business getting done—where do opportunities lie;
  • By lender, what are the average FICO, DTI, LTV, size, refi share, and channel breakdowns;
  • Whose business would match up well with yours to create a successful partnership.

Choose "PDF Format" or "Spreadsheet Format" for immediate download of document. You will also be able to access the document, at any time, through the "My Account" feature on insidemortgagefinance.com.

PDF Format - $897.00
Spreadsheet Format - $1,897.00
Print edition with U.S. shipping - $897.00
Print edition with shipping outside of U.S. - $947.00

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