Correspondent Activity Still Key Component in Early 2012 Originations Despite Increased Focus on Retail
May 24, 2012
Wholesale correspondent programs remained a major ingredient in mortgage originations during early 2012 despite the high-profile exit of two of the sectors top players, according to a new ranking and analysis by Inside Mortgage Finance. Correspondents accounted for 30.9 percent of new mortgage originations during the first quarter of this year, generating an estimated $119.0 billion in new production. That was down 9.2 percent from the fourth quarter of 2011, but it was actually up from the first three months of last year. It was, how-ever, the lowest share of overall...(Includes four data charts)