Market Data

Browse articles from all of our Newsletters related to Market Data.

February 24, 2017 - Inside Mortgage Trends

GSE Seller Buybacks Tumble to Record Low in 4Q16, More Unresolved Cases

Fannie Mae and Freddie Mac reported record lows in the volume of mortgages that sellers repurchased during the fourth quarter of 2016 because of manufacturing defects, an exclusive new Inside Mortgage Trends analysis reveals. Mortgage seller repurchases or other indemnification to the two government-sponsored enterprises totaled $207.31 million in the final three months of 2016. That was down 37.0 percent from the previous quarter and ... [Includes two data charts]

February 24, 2017 - IMFnews

What We’re Hearing: Okay, So Mnuchin is One of Them, But… / Where Were You When We Were Bailing Out Fannie and Freddie? / Remember Hank Greenberg? / Maybe Servicing Compensation is Too Low / The Next Bank to Quit Servicing…

Once the GSEs turned it around and showed a whiff of profit the speculators pounced and bought the shares on the cheap...

February 24, 2017 - IMFnews

Growing Mortgage Indebtedness Helps Drive Household Debt Near Crisis Peak

“Since reaching a trough in mid-2013, the rebound in household debt has been led by student debt and auto debt, with only sluggish growth in mortgage debt,” said one New York Fed official.

February 24, 2017 - IMFnews

Creeping Upward: The Debt Burden of FHA and VA Borrowers

Average credit scores in the FHA program drifted slightly lower, while climbing 1.9 points for VA loans.

February 24, 2017 - IMFnews

Redwood Earned $25 Million in 4Q, Sees Strong Jumbo MBS Pricing, Will Expand ‘Choice’

Redwood CEO Marty Hughes said pricing for jumbo MBS is currently strong, with execution on issuance better than execution for whole loan sales.

February 23, 2017 - IMFnews

Wholesale-Broker Production Suffers the Most in 4Q16, Down 6.7 Percent

Caliber Home Loans climbed into second place in the wholesale-broker market thanks to a huge 63.7 percent gain in annual funding volume.

February 23, 2017 - IMFnews

An ‘Alt’ Theory Emerges on the Spike in FHA Delinquencies. MSR Transfers the Culprit?

Higher FHA delinquencies may have been caused by administrative mistakes…

February 22, 2017 - IMFnews

Uncle Sam’s Haul from Mortgage Lending and Financial FCA Cases in 2016: $1.6 Billion

Consequently, top-tier banks that offered FHA-insured mortgages have opted to either restrict their government business or exit the program altogether…

February 22, 2017 - IMFnews

Thanks to Rising Rates, MSR Gains Boost Nationstar’s 4Q16 Bottom Line; Strong Revenue Growth Overall

Nationstar said it expects to board $144 billion of additional contracts in 2017, $111 billion of which is subservicing for New Residential Investment Corp.

February 21, 2017 - IMFnews

Banks Increase MBS Holdings – Went on a Buying Spree of Ginnie Mae Product in 4Q16

Bank holdings of Fannie Mae and Freddie Mac pass-through securities were up a more modest 0.6 percent from the third quarter…

February 21, 2017 - IMFnews

House Financial Services Chair Praises Decision by Trump to Block MIP Reduction, Citing Higher FHA Delinquencies in 4Q

David Stevens, MBA president and chief executive officer, said the FHA’s newer books of business have great credit quality, which makes the spike in 30-day delinquencies more surprising.

February 21, 2017 - IMFnews

Trouble in the Jumbo Sector? Originations Decline for Second Consecutive Quarter; Market Share Down Too

Meanwhile, it appears that JPMorgan Chase is ready to surpass Wells Fargo as the market leader in jumbo production…

February 17, 2017 - IMFnews

Fannie Mae Has a Blowout 4Q16: Net Profit Hits $5 Billion; A Perfectly Good Storm?

Fannie Mae CEO Timothy Mayopoulos is setting the table for challenging times ahead, issuing caution about the GSE’s dwindling capital position…

February 17, 2017 - IMFnews

Private MIs Expanded Market Share in 2016 Despite a Surge from the VA Guaranty Program

Most of the gain in private MI market share came at the expense of the FHA program…

February 16, 2017 - IMFnews

A Blowout 4Q16 Profit for Fannie Mae: $5 Billion; $3.9 Billion in Gains from Derivatives

In a conference call with reporters Friday morning, Fannie CEO Tim Mayopoulos noted: “While we expect to remain profitable on an annual basis for the foreseeable future, due to our declining and limited capital reserves and the potential for significant volatility in our financial results, we could experience a net worth deficit in a future quarter.”

February 16, 2017 - IMFnews

Short Takes: What Does Bruce Berkowitz Think? / Freddie Exploring SFR Market / BB&T Building New Servicing Center / CoreLogic CEO on Medical Leave / loanDepot Executive Jumps Ship for Wisconsin Lender

While most banks are running away from the business of servicing home mortgages, BB&T appears to like the space...

February 16, 2017 - IMFnews

Freddie Mac Hits an Earnings Grand Slam in 4Q16: $4.8 Billion in Net Income; Gains from Derivatives Top $6.3 Billion

In a few weeks, almost all of that profit will be swept into the coffers of the U.S. Treasury, which supported the GSE during its money losing years...

February 16, 2017 - IMFnews

More Red Ink for PHH in 4Q16; Nonbank Continues to Sell Assets; CEO Messina Sees Future as a ‘Capital Light’ Business

Over the past two years, PHH has lost $347 million, much of it caused by a private-label origination model that has fallen on hard times and rapidly declining interest rates…

February 15, 2017 - IMFnews

Short Takes: Branch Manager Departures at loanDepot / Nationstar a Candidate for PHH MSRs? / Delinquencies Spike in Some Categories / Still in Love with Ocwen: Bill Erbey / Coming Soon: Warehouse Ranking

Bill Erbey, who was forced out by financial regulators two-plus years ago, controls 16.8 percent of Ocwen Financial...

February 15, 2017 - IMFnews

SoftBank of Japan Agrees to Buy Fortress, Largest Investor in Nationstar Mortgage

It’s unclear at this point what the takeover might mean, if anything, for Nationstar, whose own share price has rallied the past few months.

February 15, 2017 - IMFnews

Tennessee Investor Pares Holdings in Walter Investment Management

Walter Investment/Ditech has yet to establish a date for the release of its fourth quarter results…

February 14, 2017 - IMFnews

Short Takes: Strong Earnings for Arch / More Subprime MBS Deals May Hit the Market / A New Loan Program from Citadel / CFTC Issues No Action Letter

In the nonconforming market, Citadel Servicing Corp., Irvine, CA, has just rolled out a new 12-month bank statement loan program…

February 14, 2017 - IMFnews

As Rates Rise, MBS Liquidity Improves. The Wild Card: the Fed’s Plan to ‘Lighten’ Its Balance Sheet

Agency MBS trading volumes peaked back in 2008 – the height of the financial crisis – at $344.9 billion daily.

February 14, 2017 - IMFnews

Inching Up Ever So Slightly: The Percentage of GSE Loans With Lower Credit Scores

The apparent easing of credit terms in the Fannie/Freddie market has been moving at a glacial pace…

February 13, 2017 - Inside the CFPB

Consumers Still Complaining About Mortgage Servicing Practices

Mortgage borrowers still have plenty to complain to the CFPB about, especially on the mortgage servicing front, the latest monthly consumer complaint report from the bureau suggests. “The most common issues identified by consumers are problems when they are unable to pay (loan modification, collection, foreclosure),” which were cited by 49 percent, according to the CFPB, followed by issues making payments (loan servicing, payments, escrow accounts), identified by 33 percent. Other homeowners brought up problems having to do with applying for a loan (application, originator, mortgage broker), which was noted by 9 percent, followed by signing the agreement (settlement process and costs), which was highlighted by 5 percent, and receiving a credit offer (credit decision, underwriting [With Two Data Charts]....

February 13, 2017 - IMFnews

Money Manager Senator Investment Cuts Stake in Radian to Zero

Radian recently reported net earnings of $61.1 million for the fourth quarter…

February 10, 2017 - IMFnews

Mortgage Securitization Rate Near Record-Low in 2016

Blame the whole loan-hungry megabanks for the low mortgage securitization rate?

February 9, 2017 - IMFnews

Short Takes: Time to Sell GSE ‘Juniors’? / Bruce Berkowitz, True Believer / What Fannie, Freddie and Sears Have in Common / Whatever Happened to Sears Mortgage? / Texas Capital Accumulating MSR Assets / First Franklin Settles FHA Charges

Besides the GSEs, one Fairholme’s most speculative investments is Sears Holdings Corp., the struggling retailer…

February 9, 2017 - IMFnews

Consumers Still Complaining About Mortgage Servicing Practices to the CFPB

Complications tied to making payments (loan servicing, payments, escrow accounts), were identified by 33 percent of consumers filing a complaint.

February 9, 2017 - IMFnews

Government-Insured Originations Hit All-Time High in 2016, but Fell Off in 4Q16

It doesn’t get any better than this: Ginnie Mae production hit a record $545 billion in 2016…

February 8, 2017 - IMFnews

Mortgage Hiring Increased in December, but Several Lenders are Taking a ‘Wait and See’ Approach

CMG Mortgage founder and CEO Chris George said that when it comes to hiring he's mostly in a "holding pattern" right now, with exceptions...

February 8, 2017 - IMFnews

Top Prime MBS Contributors are Mostly Banks

Quicken Loans ranked third in terms of contributions to prime non-agency MBS…

February 7, 2017 - IMFnews

FHA Production Up 7.3 Percent in 2016; Banks Account for Just Two of the Top 15 FHA Lenders

Banks continue to pull away from directly funding FHA loans in the retail channel, citing the potential legal liability…

February 6, 2017 - IMFnews

Jumbo Originations Up at Some Shops, Down at Others

Among four depositories that publicly disclose their jumbo originations, First Republic Bank and Flagstar Bancorp posted increases…

February 3, 2017 - IMFnews

Agency MBS Issuance Tumbles by Almost 16 Percent in January

Fannie Mae saw the biggest drop in refi volume, a 30.2 percent decline from December…

February 2, 2017 - IMFnews

No Sign of Slowing Down: Nonbank Share of Top 50 Servicers Keeps Growing

A fun fact for nonbanks: Depository institutions among the top 50 servicers reduced their holdings by 1.2 percent during the same period.

February 1, 2017 - IMFnews

Depositories Experienced a Sharp Drop in Mortgage Banking Income in 4Q16

In many cases, the fourth quarter drop was due to poor performance on servicing hedges.

January 31, 2017 - IMFnews

Short Takes: Still Standing: CFPB Director Cordray / PHH Fights Back (Again) / New Residential’s Ocwen-Related ABS / GSE Legal Update / LenderLive Hires New Sales Executive

"The legal challenges [to firing Cordray] must be very legitimate or they would have tossed him by now," said one industry official...

January 31, 2017 - IMFnews

Nonbank GSE Servicing Growth for 2016: A Whopping 18.5 Percent

The largest Fannie/Freddie servicers are still Wells Fargo, JPMorgan and Bank of America, but all three continue to shrink their exposure to GSE product...

January 30, 2017 - IMFnews

Bulk MSR Transfers up Sharply in Late 2016; Co-Issuance Sector Cooled

Bulk transfers of Freddie Mac MSRs also increased dramatically in 4Q16, more than doubling to $17.52 billion…

January 27, 2017 - IMFnews

CMBS Issuance Fell in 2016, but Fannie and Freddie Were Rock Stars

Fun fact: Fannie, Freddie and Ginnie accounted for 95.6 percent of multifamily mortgages securitized in 2016…

January 26, 2017 - IMFnews

Radian’s Profit Falls by 26 Percent, Management Says NIW will be Flat in 2017

Total revenues at Clayton, its mortgage and real estate services division, increased by 10 percent to $52.6 million.

January 26, 2017 - IMFnews

The Final Origination Tally for 2016: $2 Trillion-Plus; Second Best Year of the Decade

To be sure, individual lenders were all over the map in their reported production trends. A handful of top producers reported significant increases from the third quarter, including loanDepot, which was up 13.4 percent…

January 24, 2017 - IMFnews

4Q16 So Far: Mixed Results for Banks and Mortgages. An MSR Hedging Gaffe for BOK

On the servicing front, BOK Financial revealed that 4Q16 income was reduced because it left servicing-related hedges on the books for too long...

January 24, 2017 - IMFnews

Flagstar’s 4Q16 Results: Residential Production Drops, MSRs are Marked Up

So far, the industry average on MSR markups for 4Q has been roughly 29 percent, according to a recent tally from Compass Point...

January 23, 2017 - IMFnews

Deephaven Bought $550 Million of Nonprime/Non-QM Loans in 2016

Deephaven's CEO, Matt Nichols, is a former managing director at Goldman Sachs where he worked for 12 years.

January 23, 2017 - IMFnews

Bad News for Specialty Servicers: Foreclosure Rate Plunged 31 Percent in 2016

As delinquencies and foreclosures decline, specialists that deal with problem loans should see a drop in business...

January 20, 2017 - Inside FHA/VA Lending

Lenders Expect VA Refis to Drop in 2017, Rising Demand for Purchase

VA originations have been trending upward over several quarters, thanks to an unusually heavy share of refinance business, but all good things, at some point, must slow down, lenders say. The refinance business overall has fallen to 45 percent from 55 percent in the fourth quarter of 2016, and that will have an effect on VA originations in the first quarter of 2017, said Andy May, chief operating officer of the American Armed Forces Mutual Aid Association Mortgage Division. Going forward, May expects VA originations to fall by 10 percent in the first quarter due to rising interest rates. But even though rates have been trending up, May saw an uptick in VA loan applications in January as fence-sitters jumped into the market to take out a loan before rates went any higher. “The MBA estimates rates will rise above 5 percent in the next 24 months and then down to 4.8 percent by the end of 2018, and up to 5.3 percent at the ...

January 20, 2017 - Inside FHA/VA Lending

FHA/VA Default Rates Spike Up In 4Q16, Nonbanks Still Growing

Mortgage default rates appeared to spike higher in the fourth quarter of 2016, according to a new analysis and servicer ranking by Inside FHA/VA Lending. Some 5.51 percent of FHA loans in Ginnie Mae mortgage-backed securities pools were reported as 30- to 60-days past due at the end of December. That was up 80 basis points from the previous quarter and was easily the highest default rate in the past three years. FHA default rates were also up in more serious delinquency categories: loans 60- to 90-days past due and those over 90-days late. The figures are based on loan count and are not seasonally adjusted. Similar trends occurred in the VA home loan guaranty program. The 30-60 category was up 41 bps, while 90+ delinquencies jumped 19 bps. The supply of Ginnie single-family MBS outstanding continued to set new records. The total, not including multifamily and FHA home-equity conversion ... [4 charts]

January 20, 2017 - IMFnews

What We’re Hearing: Time for Steve to Talk to Mel / Going to Bed, Disappointed / The GSE Stock Bet: Buy Low, Sell High / Is Pershing Square Losing Money on the GSEs? / NAR Chief Stays Hopeful on MIP Cut

As one former GSE stock analyst told us: “There’s no way they can be privatized. To maintain an AAA rating they would need 25 percent (I’m guessing) capital to assets. Even at 5 percent there is not enough spread to earn a market return on capital.”


With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

vote to see results