Bank of America retained 94% of its mortgage originations in the fourth quarter of 2019, a much higher retention rate than other big banks. Officials at the bank said BofA’s loans offer better yields than MBS.
The CFPB is considering eliminating the DTI ratio metric when determining the QM status of a mortgage and instead basing the designation on the interest rate. The proposal was met with mixed reactions.
The lender plans to raise around $100 million through an initial public offering of shares. Velocity funded about $1.0 billion of originations in 2019, focused on residential investment and small commercial properties.
Anchor Loans and LendingHome are the largest lenders operating in the fix-and-flip space. An analysis of the most recent HMDA data suggests the firms are neck and neck in originations of short-term loans. (Includes data chart.)