After noting a decline in market share during the second quarter, nonbanks increased their share of originations to 65.5% in the third quarter. The increase was driven by the largest nonbanks.
New programs from United Wholesale Mortgage and The Loan Store highlight the unique ways lenders are pushing for wholesale broker business in today’s high interest rate environment.
The volume of FHA loans securitized into Ginnie mortgage-backed securities grew 20.5% between March and April, to $18.39 billion. VA loan production sent to Ginnie increased at an even higher rate. (Includes two data charts.)
Profitability outlook; Fitch downgrades Home Point’s corporate ratings; UWM aims to limit trigger leads; New American Funding looking for joint ventures; new initiatives at MISMO.
Originations of FHA and VA loans through the retail channel dropped a hefty 52.5% in 2022, allowing the correspondent channel to become the dominant source of government-insured lending. (Includes data chart.)
The flow of new single-family mortgage-backed securities in Ginnie pools dribbled to just $22.66 billion last month. Through the first two months of the year, volume was down 53.9% from the same period in 2022.