Posted To: Pipeline Press

There sure are lots of people, borrowing lots of money, for lots of houses out there! And the bump in activity is coming from non-bank lenders and is not coming from non-QM sources since government-related mortgage programs accounted for all of the growth in single-family mortgage servicing during the third quarter of 2019. Per Federal Reserve data released this month, the supply of one- to four-family mortgage debt outstanding climbed 0.8% from June to reach $11.075 trillion as of the end of the third quarter . If anyone asks you, Fannie Mae, Freddie Mac and Ginnie Mae had a combined $7 trillion of single-family mortgages outstanding, mostly in mortgage-backed securities pools, up nearly 2% during the third quarter, more than double the overall market increase. Lender Products and Services…(read more)

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Source: Mortgage News Daily