Securitization of purchase loans rose 16.2% from July to August, including an 18.2% increase in VA loans. FHA still accounted for the biggest share of government-insured purchase loans, 53.0% last month.
TD Bank and Charles Schwab continued to dominate the sector, accounting for a combined 45.2% of industry ABS holdings despite pulling back somewhat during the pandemic-stricken second quarter.
The nonbank mortgage giant also offered a 3Q gain-on-sale estimate of 405 basis points to 430 bps. In the second quarter, its GOS came to a mouth-watering 519 bps.
If the LLPA is passed to consumers as a charge at consummation, lenders will have to disclose the added cost as an “origination charge” on the loan estimate and closing disclosure.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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