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 top three banks reported a combined $2.3 billion in mortgage banking income for the third quarter of 2020, up $1.3 billion from the prior period. (Includes data chart.)
A lot of the decline in servicing-for-others held by banks was attributable to Wells Fargo and other big players in the market. A number of mid-sized banks grew SFO in 3Q20. (Includes two data charts.)
Although gain-on-sale margins narrowed from the second to the third quarter, nonbanks reported strong results from their origination and secondary market activity. (Includes data chart.)
Wells Fargo's huge increase in mortgage-banking income accounted for nearly all the gain reported by 19 publicly traded banks. Still, the second and third quarters of 2020 were incredibly lucrative for mortgage banking platforms. (Includes data chart.)
California remained the top market for insured mortgage originations in the third quarter, though volume was up 16.6%, compared with a 19.1% increase nationwide. (Includes data chart.)
Retail lending reigned supreme in the second quarter as lenders facing an onslaught of consumer demand focused on the most efficient and profitable production strategy. (Includes two data charts.)
It will be the 11th issuance of its type by loanDepot.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.
RSS