Bank acquisitions in the mortgage space have been few and far between the past few years. Still, officials at Western Alliance believe it makes perfect sense for the bank to acquire AmeriHome Mortgage.
The correspondent production channel boosted its share of loans delivered into agency MBS during the fourth quarter, but not enough to regain its former glory. (Includes two data charts.)
Banks and credit unions increased their mortgage production from the second to the third quarter, but not nearly as fast as state-licensed nonbanks. (Includes data chart.)
Correspondents increased their share in the conventional-conforming and government markets, as did wholesale-broker platforms. But TPO production was nearly shut out of the jumbo market. (Includes two data charts.)
The primary market looked a little more like normal in the third quarter, with correspondents and mortgage brokers regaining some ground. Traditional retail still accounted for an historically large share of production. (Includes six data charts.)
The broker share of loans sold to Fannie and Freddie rose in the third quarter, while declining in new Ginnie business. Retail remained king, including an increase in the channel's share of agency purchase-mortgage business. (Includes two data charts.)