Endorsements fell in May at the two top FHA shops in the country even as the market’s total production of loans with FHA insurance increased both on a monthly and year-over-year basis, according to Inside FHA Lending’s analysis of FHA data. Wells Fargo, the country’s largest FHA lender, saw its May volume fall 14.6 percent to $1.94 billion from April while second-ranked Quicken Loans saw production fall even farther by 22.5 percent to $1.16 billion over the same period. Year over year, Wells Fargo’s FHA volume fell 5.9 percent in May while for Quicken Loans, the story was different ... (1 chart)
It will be the 11th issuance of its type by loanDepot.
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