Overall, 42.8% of government-backed loans originated in 2018 were sold to unaffiliated non-agency buyers, according to recently released Home Mortgage Disclosure Act data. The majority of sellers with at least $1.0 billion in sales were nonbanks.
Reverse mortgage lenders saw modest growth in the second quarter with a mere 3.0% increase in HECM originations. The trend in the sector remains weak, with production at the mid-year mark down 33.7% from a year ago.
The volume of broker-originated FHA and VA refinance loans pooled in new Ginnie MBS jumped 94.1% from the first to the second quarter. Correspondent production saw the smallest gains among the three channels.