The correspondent business channel originated over $300 billion of mortgages in 2016. According to Milliman's Default Score1 model, correspondent lenders have originated purchase loans for sale to the government-sponsored enterprises (GSEs) with higher risks of default compared with the retail channel.
Read this expert analysis from Milliman, one of the world's largest providers of actuarial and related products and services. Its Mortgage Banking Practice provides analytical solutions to the mortgage banking industry. Through the LoanHD® Loan Scoring Module , both Milliman mortgage default and repurchase scores are available directly through the platform.
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