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Volume 22 - Number 10

May 11, 2018

Mixed Results for Private Nonbanks in 2017

A shift in origination trends from refinances to purchase mortgages led to reduced earnings at a number of private nonbanks in 2017, according to Moody’s Investors Service. In a recent report, the rating service detailed profitability levels for four large private nonbanks: Freedom Mortgage, Provident Funding Associates, Quicken Loans and Stearns Lending. The firms generally don’t disclose their financial results, but Moody’s maintains corporate ratings on them, which provides ...

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Poll

With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.

17%

11% to 25%. It’s a challenging market.

48%

25% to 40%. It’s going to be very ugly.

24%

No opinion.

11%