GSE Seller Profile: 2Q13 Print edition with shipping in the U.S.
With correspondent opportunities disappearing, more lenders are selling directly to the government-sponsored enterprises. In the second quarter of 2013, a total of 1,922 sellers did business with Fannie Mae or Freddie Mac. The 2Q13 edition of Inside Mortgage Finance’s GSE Seller Profile data report will help you pinpoint the varied strategies they used in generating loan originations and see where you can capitalize on the differences from your business.
The GSE Seller Profile: 2Q13 examines the loans sold to Fannie Mae and Freddie Mac between April 2013 and June 2013 to bring you extensive detail on GSE activity by lender/issuer—particulars such as average FICO score, average debt-to-income ratio, and average original loan-to-value ratio.
This report looks at the 1,922 sellers to the GSEs in this quarter and reports on their activity. You’ll find
Ranking of the 1,922 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:
Whose production relies heavily on correspondent lending;
Where the high FICO scores are;
Where the business is getting done—where opportunities lie;
What’s the average size of the loans your competitors are making;
By lender, what are the average FICO, DTI, LTV, size, refi share, and channel breakdown;
Analyze production strategies for competitive advantage and partnering potential.
Using the data, you can draw information about the market as a whole…
More than a third of the institutions that sold loans to the GSEs in the second quarter booked less than $5 million in sales. More than half had less than $10 million in sales.
Retail remained the busiest channel, with nearly all of the sellers (1,849 of 1,922) sourcing loans through this channel. Only 89 of the thousand smallest lenders used correspondents or brokers.
Or in fine detail about specific market players…
Neighborhood Mortgage Solutions, Bankers Bank, Stifel Bank and Trust, First State Bank Nebraska, TXL Mortgage Corporation and the Bank of North Dakota all relied solely on the correspondent channel as the source of the loans they sold to the GSEs.
Among the 500 institutions making the most loans to the GSEs in 2Q13, nine did so while posting an average loan-to-value ratio above 100. Of this group, Bayview Loan Servicing, with a sales volume of $57.7 million, had the highest average LTV, 119.37 percent. (The highest LTV among all of the sellers, 147.00 percent, belongs to LGE Community Credit Union, which sold one $144,000 loan during the quarter.)