GSE Seller Profile: 3Q14 Print edition with U.S. shpping
Purchase-money loans made up the majority of GSE sales in 3Q14, finishing the period just over the halfway mark at 54.76 percent. But the shift is replicated more often among smaller sellers than it is among bigger players. Among the top 20 sellers, 40 percent are still refi-heavy. Among the top 100, it's just 27 percent.
Learn more about the market—and the particulars of each individual player in it—with Inside Mortgage Finance's quarterly report GSE Seller Profile. This exhaustive data report examines GSE sales lender by lender, for every lender that made a sale to a GSE during the three-month period. You’ll have detailed information on where the loans are coming from—retail, correspondent or broker. You’ll have particulars on the loan demographics—FICO score, loan-to-value, debt-to-income and loan size averages. You’ll also see how the sales break down by product type—refinance or purchase. Dig deeper into the channel-specific data to get even more narrowly focused information on loan demographics and product type.
The particulars allow you to compare and contrast your results, as well as your products and processes, with the rest of the market to root out refinements and new approaches that will improve your own results.
The current report looks at the 1,873 sellers to the GSEs in the third quarter of 2014 and reports on their activity. You’ll find:
Ranking of the 1,873 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:
Who is making use of correspondents and brokers, and what type of business are those channels bringing in;
Who is lending to low FICO customers and what do the other loan demographics look like;
Who is doing a lot of purchase-money business and what kind of loans are they making;
Where is the business getting done—where do opportunities lie;
By lender, what are the average FICO, DTI, LTV, size, refi share, and channel breakdowns;
Whose business would match up well with yours to create a successful partnership.
From the third quarter 2014 report, you'd learn:
M&T Bank’s retail purchase-money loans were near mirror images of the market, with average loan value, loan-to-value ratio and FICO score hewing to the market averages. But the refinance loans sourced through its retail branches had looser underwriting than the norm, with LTV of 76.2 percent (market average: 68.0), average FICO of 721.7 (market average: 744.1) and debt-to-income of 33.7 percent (market average: 31.8).
Looking for correspondent partners? These lenders are just a few of those that got the lion’s share of their loans from the correspondent channel: BB&T (66 percent), First Guaranty Mortgage Corp. (60 percent), First Bank Tennessee (76 percent), and Zions First National Bank (66 percent).
In September, the loans that Prospect Mortgage sold to the GSEs had an average coupon of 4.660 percent. The rate for loans it generated from the retail channel was 4.406 percent. The rate on the purchase-money loans it made was 4.788 percent.
Choose "PDF Format" or "Spreadsheet Format" for immediate download of document. You will also be able to access the document, at any time, through the "My Account" feature on insidemortgagefinance.com.