Bank Mortgage Sales Increased in 3Q11 But Failed to Catch Pace of Prior Years
January 13, 2012
Banks reported a solid 9.6 percent increase in the volume of home loans sold by their mortgage banking operations during the third quarter, but activity remained at its lowest level since the financial crisis of late 2008. A new Inside Mortgage Trends analysis of call report data reveals that banks sold $248.8 billion of loans through their mortgage banking businesses during the third quarter, rebounding from an especially slow three-month period ending in June. Even with the gain in sales, the third quarter was the second-lowest three-month total since the end of 2008. On a year-to-date basis...