The warehouse sector is in a historic sweet spot: Nonbanks are making money hand-over-first, while accepting the tighter underwriting requirements placed on them. (Includes data charts.)
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With combined assets worth about $6.1 trillion, Fannie Mae and Freddie Mac will need to set aside roughly $250 billion in leveraged capital in order to comply with the new rule.
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Traditional retail mortgage lending declined in the first quarter and correspondent production tanked. But the wholesale-broker sector, led by its flagship lender, posted a solid gain. (Includes six data charts.)
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In the COVID-19 era, lenders have been hampered by credit tightening and forbearance edicts, but an odd thing has occurred: Profit margins on new loans are phenomenal.
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