The industry overall gave back its AAG exit gains and then some. But just 2 of the other top 8 lenders (excluding RMF) posted declines – quite a divergence!
- Fairway jumped 70.5% to 133 loans
- FAR gained 29.2% to 274 loans
- Open Mortgage rose 24.2% to 113 loans, their highest since September
Bank turbulence and the resulting impact on loan pricing broke the 3 month growth streak for case numbers issued, as volume fell -18.4% in April. Recent increases in the 10 year CMT index are likely to further steepen the hill to climb for new originations, so we’ll continue to watch closely.
- Equity Takeout cases issued (new reverses that are neither purchase nor refinances) dropped -20.3% to 2,712
- Purchase (H4P) dropped -23% to 157
- H2H refinance case numbers dropped -2% to 432
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Check out the full rankings on pages 3 and 4 of the full report below by clicking on the image.
