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Volume 2014 - Number 21

May 29, 2014

Downloads Available: Warehouse Lenders Ranked by Commitments - 1Q14

Warehouse Usage Rates the Weakest in Years, ‘Mini Correspondent’ Programs Gaining Steam

Banks that extend warehouse lines of credit to nonbank originators saw their commitment levels fall 39 percent in the first quarter compared to the same period a year earlier, yet another sign that the origination market was extremely weak during the first three months of 2014. On a sequential basis, commitments dropped a more benign 10.8 percent, but itís not unusual for some firms to keep a line open, even if theyíre not utilizing their power to borrow. According to Inside Mortgage Finance estimates, banks and nonbanks had $27.0 billion in warehouse commitments on their books as of March 31, compared to $31.0 billion on December 31, and $45.0 billion a year ago. One active warehouse bank had...[Includes one data chart]

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.


No. It’s still difficult compliance/regulatory-wise.


Maybe. It’s under consideration.


Not now. But things could change as 2018 progresses.