As residential loan originations moved lower between the second quarter and third quarter of this year, there were a few lenders that decided not to provide mortgage origination data.
Among them was Birmingham, Michigan-based United Shore Financial Services LLC. Subsidiary-United Wholesale Mortgage claims that it is “the nation’s top wholesale lender.”
United Wholesale apparently lagged Stearns Lending Inc., which reported in the Mortgage Daily Third Quarter 2015 Mortgage Originations Survey $2.95 billion in wholesale originations.
An article from Inside Mortgage Finance indicated that United Wholesale closed $2.94 billion in the three months ended Sept. 30. Year-to-date Sept. 30 volume amounted to $9.76 billion, and full-year originations are expected to reach $13.2 billion.
Fairway Independent Mortgage Corp., which declined to participate in the third-quarter survey, reports that it closed $9.27 billion in mortgages through Oct. 31 of this year. That put third-quarter mortgage production at an estimated $2.99 billion.
Also declining to participate in the third-quarter survey were Bethpage Federal Credit Union, which reported $0.364 billion in second-quarter production; Churchill Mortgage Corp., where second-quarter volume reached $0.353 billion; Freedom Mortgage Corp., with $10.473 billion in second-quarter originations previously reported; loanDepot Inc., which previously reported $7.9 billion in second-quarter production; and New American Funding, where second-quarter originations were $2.752 billion.
As much as $3 billion in mortgage production is projected next year by Social Finance Inc., a student loan lender, Bloomberg reported.
LoanStar Home Lending projected last month that this year’s originations will reach $0.750 billion, while it hopes to close $1.5 billion in 2016.
During the eight months ended Aug. 31, Arvest Bank originated 6,380 home loans for $1.009 billion, a recent news release indicated.
USA Mortgage, where third-quarter originations were 2,061 loans for $0.354 billion, recently reported that it likely to be the No. 1 mortgage lender in the St. Louis metropolitan area for the fourth consecutive year in 2015.
A Dec. 2 announcement from Evergreen Home Loans said
it had record production in September. Full-year 2015 originations are expected to be 10 percent better than the previous year.
Lenda, which says it enables borrowers to refinance totally online, reported on Nov. 24 that it
has processed $60 million in loans since the summer of 2014.
Credit Unions in the Waterloo-Cedar Falls, Iowa, metropolitan statistical area grabbed a 44 percent of all mortgage originations in that market last year — the biggest share of any market — Callahan & Associates reported. The next-biggest market share was in the La Crosse, Wisconsin-Minnesota MSA: 37 percent. After that was 36 percent in the MSAs of Pocatello, Idaho; Iowa City, Iowa; and Cedar Rapids, Iowa.
With 311 in loans closed during the 12 months ended Oct. 14, Union Home Mortgage Corp. says it was the biggest USDA lender of rural development loans.
