Although a number of major correspondent lenders pulled back from that market in 2013, a hefty 29.1 percent of home mortgages were funded by one company and then sold, servicing released, to a larger aggregator and, typically, securitized by Fannie Mae, Freddie Mac or Ginnie Mae. That means total production figures that include correspondent lending significantly overstate the concentration in the mortgage origination sphere. Including its correspondent production, for example, Wells Fargo put its fingerprint on 27.7 percent of new mortgages originated in 2012. But the company’s direct originations – loans generated through its retail channel and funded through mortgage brokers – represented...
When it comes to sales of retail-originated loans with private mortgage insurance, Quicken Loans is the new king of the market, according to exclusive figures compiled by Inside Mortgage Finance.
The White House continues to search for someone to head the FHFA. But will it ever officially introduce a candidate? Mel Watt's name has come up again.
Freddie Mac is phasing out a software package that helps with the servicing of delinquent loans, a move that could help private sector technology vendors.
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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