Housingwire – Jacob Gaffney
The nation’s once top mortgage lenders, the biggest banks, are a fading force in the housing economy.
FBR Capital Markets [FBRC] released its latest report on mortgage origination volumes and found that, among the big four banks, home loan lending is at its lowest level in a decade.
Origination volumes are currently at $305 billion in the fourth quarter, down from $460 billion in the quarter preceding. FBR still projects an estimated $1.3 trillion in overall originations for 2014 is achievable.
The news is a departure from estimations from the Mortgage Bankers Association. Last month, the MBA lowered its forecast for 2014 mortgage originations by $57 billion to $1.12 trillion.