As nonbanks go, so goes the warehouse lending sector. Commitment levels are rising but higher interest rates could cause some turbulence in the months ahead. (Includes data table.)
Legislation to limit trigger lead activity was removed from “must-pass” defense spending legislation. Still, mortgage industry participants are confident Congress will pass the trigger leads ban as soon as next year.
About 40 million households are making consistent monthly rent payments that are equal to or greater than the average monthly mortgage payment, according to one estimate.
Originations through the retail channel increased during the third quarter of 2024, but correspondent and broker production grew at a faster pace. The retail share of total first-lien originations declined to 50.8%. (Includes six data tables.)
The increase in the 10-year Treasury rate following the November election and changes in expectations for interest rates have prompted economists to revise down their projections for originations in 2025.
Automatically increasing the caps for loans to be eligible for sale to the GSEs increases access to mortgage credit, but at the expense of increasing home prices.
Combined, non-agency jumbos and conforming jumbos accounted for 16.1% of total originations during the third quarter. Nonbanks are increasing their lending as some banks pull back. (Includes three data tables.)
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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