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Correspondent Production Channel Gains Momentum In Surprisingly Strong 3rd Quarter Originations Market
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With single-family mortgage originations swelling to their highest quarterly volume in two years, an unexpected source of new production strength came in the correspondent channel, according to a new ranking and analysis by Inside Mortgage Finance. An estimated $258.0 billion of new loans were funded through wholesale correspondent programs during the third quarter, the highest level since the third quarter of 2003. Correspondent production increased by 24.0 percent from the...