Mortgage Brokers Making a Comeback? Ally/ResCap Update; Who is Ewarehouse?

Are
mortgage brokers making a comeback?
After the financial crisis, drop in
originations, regulatory tsunami (a “Reg-plosion”), and the recent exit from
the sector by many large institutions, many thought the days of the mortgage
broker were numbered. However, it may be too soon to count them out. According
to the Q4 2011 Quarterly Data Report from the NMN, third-party originations jumped to 11.4% of all originations, or
$51.3 billion, up sharply from the $29 billion brokers originated in the third
quarter. Going back the previous five quarters, market share was 8.2%, 7.9%,
6.8%, 10.7%, and 11.8%. Putting things into perspective, broker market share
peaked at nearly 30% in 2007. Perhaps reports of the brokers’ death were exaggerated.

What is up
with ewarehouseone? …

…(read more)

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