Sunday, December 28, 2008
Q3-2008 vs Q3-2007 Alt-A Mortgage Originators
Q3-2008 (vs. Q3-2007) saw an even bigger decline in Alt-A mortgage originations than the Q2-08 vs. Q2-07 data point. The Top-10 Alt-A companies underwrote $1.55 Billion in Alt-A mortgages in Q3-2008, which is an 88% decline from the $13.2Billion of business done in Q3-2007.
Again, ResCap (GMAC) and Chase were the biggest drivers of the decline--Down $4.7Billion and $2.4Billion respectively.