Wells Fargo and JPMorgan Chase, the largest bank mortgage lenders, reported significant increases in the first quarter. But PlainsCapital Bank and Federal Savings Bank both posted double-digit declines.
Then again, Fannie and Freddie don’t buy everything that’s eligible. In recent months, there has been a burst of non-agency MBS issuance backed by GSE-eligible loans...
For some sellers, the curbs don’t represent much of a bump in the road. For Quicken Loans, the top GSE seller over the 12-month period, investor/second-home loans were roughly 5.5% of its sales to both Fannie and Freddie.
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