Wholesale Production Channels Stepped Up in Third-Quarter Refinance Originations Boom
November 21, 2012
Wholesale mortgage production channels and correspondent originations programs in particular were key factors in the surge in loan originations during the third quarter of 2012, according to a new Inside Mortgage Finance ranking and analysis. Wholesale lending increased by 11.4 percent from the second quarter to the third, outgaining a 7.7 percent increase in retail production. And with most of the gain coming in correspondent production, its clear that the influx of new lenders in that segment, combined with Wells Fargos growing presence, has more than made up for the withdrawal of a handful of major lenders of the past. Correspondent originations rose...[Includes four data charts]