Market Data

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

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.”

January 20, 2017 - IMFnews

Residential Production at CitiMortgage Down 14 Percent in 4Q16

Citigroup’s showing in originations paled in comparison to some of its megabank competitors...

January 20, 2017 - IMFnews

Upwards of $20 Billion in Legacy Subprime Mortgages Could be Refinanced

Black Knight studied loan-level data on outstanding mortgages to derive at its conclusion…

January 20, 2017 - IMFnews

The Final Tally: ABS Issuance Was Just About Flat in 2016

Santander Consumer USA was the most active issuer of vehicle ABS…

January 19, 2017 - IMFnews

Residential Lending Tumbles at BB&T; Mortgage Earnings Drop as Well

BB&T saw residential loan production decline in the fourth quarter while its servicing portfolio fell by less than 1 percent.

January 19, 2017 - IMFnews

Nonbanks Increased Agency Servicing by Almost 22 Percent in 2016

Nonbank servicers have a particularly big footprint in the Ginnie market, accounting for 53.6 percent of servicing outstanding at Dec. 31…

January 18, 2017 - IMFnews

U.S. Bancorp Reports Lower Home Originations and Applications for 4Q

USB blamed the weaker mortgage performance on “lower origination and sales volume.”

January 18, 2017 - IMFnews

GSE MBS Volume Hit a 3-Year High in 2016

Although heavy refinancing activity accounted for the fourth-quarter uptick in MBS issuance, 2016 was also a strong purchase-mortgage market…

January 16, 2017 - Inside the CFPB

CFPB News in Brief

Bureau Mulling Possible Changes to HMDA Resubmission Guidelines. It’s been roughly one year since the CFPB issued a request for information regarding Home Mortgage Disclosure Act resubmission guidelines, and the bureau has yet to decide which way to proceed. The agency received 31 comments in response to the RFI, which was published Jan. 12, 2016, in the Federal Register. Commenters included HMDA reporters, industry trade groups, and consumer groups.... Revisions to Interagency Compliance Rating System Still Pending. The CFPB and the other members of the FFIEC continue to review public comments on their April 29, 2016, proposal to revise the existing Uniform Interagency Consumer Compliance Rating System to reflect regulatory, supervisory, technological, and market changes since the system was established....

January 16, 2017 - Inside the CFPB

Mortgage Complaints Keep Falling as Market Continues to Heal

Empirical evidence of the mortgage market’s recovery is still piling up, with the latest quarterly consumer complaint data from the CFPB showing that gripes about home loans fell in most categories tracked, both on a quarterly basis and year over year, according to a new analysis and ranking by Inside the CFPB. Consumer criticisms in the fourth quarter fell a solid 15.0 percent from the period ending Sept. 30, 2016. Finger pointing by borrowers fell on a YOY basis as well, but by a smaller 4.5 percent, the data show. With fewer and fewer borrowers underwater or in foreclosure these days, it should be no surprise that complaints about loan modification are down the most [With three exclusive data charts] ...

January 17, 2017 - IMFnews

Correspondent Share of GSE Business Edged Higher in 4Q16; Brokers Slumped

United Shore Financial Services was the top seller of broker loans by a wide margin, with $5.83 billion in fourth-quarter activity, more than twice its nearest competitor…

January 13, 2017 - IMFnews

Wells Fargo, JPM and BofA All Managed to Increase Production in 4Q16. The Last Squeezing of the Mortgage Grapes?

In general, nonbanks have been gaining origination market share from depositories over the past few years, a trend that shows no sign of abating.

January 13, 2017 - IMFnews

The Final Tally: Non-Agency MBS Production Tumbled Sharply in 2016

Oddly enough, the nonprime space showed some signs of life last year and hopes are high for 2017 as well…

January 12, 2017 - IMFnews

Securitization of Private MI Loans Declined in 4Q16; Full-Year Numbers Look Good

The GSE figures suggest that private MIs saw a measurable drop in new insurance written in the final three months of 2016, but ended the year with a significant increase in volume compared to 2015.

January 11, 2017 - IMFnews

The Love Affair Continues: First-Lien Holdings at Banks and Thrifts Up Again in 3Q16

Third-ranked Bank of America had the slowest growth among the three banks, with a $189.1 billion portfolio as of the end of the third quarter…

January 10, 2017 - IMFnews

Mortgage Hiring Accelerates in November. Can it Last?

Some industry executives have been predicting a correction in mortgage hiring in the coming months, with large layoffs anticipated at shops that have focused too strongly on refinancings.

January 10, 2017 - IMFnews

A Wide Variety of Denial Rates Among Jumbo Originators

Some 30 percent of jumbo application denials were tied to debt-to-income ratios, compared to 15 percent for all loan types.

January 10, 2017 - IMFnews

The Final Tally: Ginnie Mae MBS Issuance Hit a Record High in 2016; VA Soared

FHA collateral still accounted for over half of Ginnie issuance, but the 2016 total was up a more subdued 8.2 percent from the previous year…

January 6, 2017 - Inside FHA/VA Lending

Ginnie MBS Program Set New Records in 2016, VA Soared

Ginnie Mae guaranteed a total of $507.46 billion of single-family mortgage-backed securities in 2016, its biggest annual volume ever, according to a new analysis and ranking by Inside FHA/VA Lending. That was up 16.4 percent from the agency’s previous record of $435.80 billion set in 2015. (Those figures include MBS backed by FHA home-equity conversion mortgages, which are not included in the table below or in the rankings on pages 3-5.) In 2016, Ginnie guaranteed $497.03 billion of MBS backed by traditional forward mortgages, also a record, which was up 16.9 percent from the previous year. The biggest factor in last year’s record-setting production was the boom in VA lending, particularly VA refinance loans. Issuers securitized a record $203.03 billion of VA loans last year, up 33.0 percent from the 2015 total. Some 54.3 percent of those loans were refinance transactions. Total VA refi loan ... [4 charts]

January 6, 2017 - IMFnews

The Big Boys of Servicing Suck Wind; Smaller Shops Shine

Growth was far from uniform among servicers, Inside Mortgage Finance found…

January 6, 2017 - IMFnews

Heavy Agency MBS Production Lifted Asset Securitization to 3-Year High in 2016

In 2016, the non-agency MBS market was a dud…

January 5, 2017 - IMFnews

Short Takes: Departing HUD Secretary Castro Takes Stock / FHA Had a Market Share of What? / The Tables Have Turned / Who’s Selling MSRs? / Phoenix Promotes Sprague to EVP

The seller of the MSRs is a large nonbank based in the Midwest...

January 5, 2017 - IMFnews

Angel Oak’s Final Non-QM Tally for 2016: $700 Million

“It was a record month for us,” said Angel Oak executive Mike Fierman.

January 5, 2017 - IMFnews

First-Lien Mortgages Continued to Perform Better in 3Q16, OCC Finds

Residential servicers started 47,955 new foreclosures in the quarter, a 1.6 percent sequential decline, and a whopping 25.3 percent fall compared to a year ago.

January 5, 2017 - IMFnews

Final GSE MBS Tally for 4Q16: Just Shy of $300 Billion; Best Quarter Since 2Q13

Fannie Mae’s MBS issuance in 2016 was up 23.3 percent from the previous year…

January 4, 2017 - IMFnews

Nonprime Lender Citadel Now Actively Hiring Retail LOs; Ends Year with Just Over $500 Million in Originations

Citadel now has offices in California, Georgia, Oregon and plans to open an underwriting and transaction location in Salt Lake City soon.

January 4, 2017 - IMFnews

HECM Volume Down 10.5 Percent YoY; HECM MMIF Value at Negative $7.7 Billion

Through the first nine months of 2016 the HECM volume leaders were American Advisors Group, One Reverse Mortgage and Reverse Mortgage Funding.

January 3, 2017 - IMFnews

Floodwaters of Negative Equity Continue to Recede

When the housing recession was in its early years, negative equity was most pronounced in a handful of Southwestern and Southeastern markets...

January 3, 2017 - IMFnews

ARM Originations – A Force to be Reckoned With? JPM the Market Leader

The nation’s top three ARM producers are: JPMorgan Chase, Wells Fargo and Bank of America…

December 30, 2016 - IMFnews

What We’re Hearing: 10 Mortgage Firms to Keep an Eye on in 2017 – and Why

But if you think that Wells Fargo will pull a “BofA” and quietly downshift its presence in mortgages, think again.

December 30, 2016 - IMFnews

FHA ‘Rehab’ Loan Volume at $2.4 Billion and Counting

In the third quarter, the top FHA rehab were Prospect Mortgage, Movement Mortgage and Wells Fargo.

December 30, 2016 - IMFnews

Mortgage Insurance Stocks Have Been on a Tear of Late. Can it Last?

Rising interest rates are good for MI stocks because it translates into greater “persistency…”

December 30, 2016 - IMFnews

When it Comes to Jumbo Lending, Retail Channel Dominates, By Far

Wells Fargo, for example, reported that 90.7 percent of its third-quarter jumbo originations came through the retail channel…

December 28, 2016 - IMFnews

2019: A $3 Trillion Year for Originations?

This year, fundings could reach upwards of $2.00 trillion based on activity through the first nine months of the year.

December 28, 2016 - IMFnews

Both Sides of Mortgage Banking Posted Significant Profit Gains in 3Q16

JPMorgan Chase was the only firm that saw a decline in production-related revenue during the third quarter…

December 27, 2016 - IMFnews

Short Takes: Gone for Now: Really Low Rates and No Points / Tracking the Yield on the 10-Year / Why Home Price Gains May Taper Off / Nonbanks Get FHFA’s Approval

“Home prices cannot rise faster than incomes and inflation indefinitely.” – David Blitzer, managing director of the index committee at S&P Dow Jones.

December 27, 2016 - IMFnews

Share of Loans that Close on Time Increasing

Other loan types also generally showed improved closing times.

December 27, 2016 - IMFnews

Is it the End of an Era for GSE Loan Buybacks?

Excluding legacy-related buybacks, total GSE seller repurchases would have been down 9.9 percent…

December 22, 2016 - IMFnews

Short Takes: Another Nonprime Lender Gets Rated / MorVest Wraps Up GSE MSR Auction / PennyMac’s Financing Deal / A Bright Idea and Others / BB&T Names New Prez / A Short Publishing Break for IMFnews

Another non-agency lender has received a rating from Fitch: Angel Oak Home Loans...

December 22, 2016 - IMFnews

Broker Market Share of Jumbo Production Slips in 3Q16

The retail channel accounted for 91.7 percent of Wells Fargo’s jumbo production during the first nine months of 2016…

December 21, 2016 - IMFnews

Short Takes: NAR Warns House Speaker Ryan Not to Mess with Housing / The Ramifications of Making Changes to the Tax Code / Miami Under Water and Not in Terms of Home Equity / RPM in the Hunt? / Seniors and Home Equity

A new report from ATOM Data Solutions says concerns about rising sea levels “remain a rarity among most South Florida homeowners and investors"...

December 21, 2016 - IMFnews

Subservicing Continues to Gain Market Share; Cenlar Maintains Dominance

The privately held Cenlar ended the third quarter with a subservicing market share of 25.6 percent, Inside Mortgage Finance found.

December 20, 2016 - IMFnews

Interest-Only Originations Falter (For Some) in 3Q16

After PHH Mortgage, the other top IO producers in 3Q16 were JPMorgan Chase, First Republic Bank, MUFG Union Bank, and Citibank.

December 19, 2016 - IMFnews

Mutual Fund Company T. Rowe Price Reduces Stake in PHH

Over the past year, PHH’s share price has traded as high as $16.80 versus a 52-week low of $8.26.

December 19, 2016 - IMFnews

Securitization Rates Jumped Higher in 3Q16

For the first nine months of 2016, the securitization rate was 67.7 percent, Inside MBS & ABS found…

December 16, 2016 - IMFnews

And the Beat Goes On: Nonbanks Keep Taking MSR Share from Depositories

Commercial banks reduced their securitized servicing by 1.9 percent during the third quarter, though they still accounted for 52.5 percent of that market.

December 16, 2016 - IMFnews

A Mortgage Deal Falls Apart? Check the Appraisal

In other instances, the home price agreed upon by the buyer and seller might fall within market trends, but the appraiser might not have access to data to verify the value.

December 15, 2016 - IMFnews

Home-Equity Lending Softened Slightly in 3Q16 as Refis Surged

Bank of America once again ranked first as the top home-equity lender in the nation, although its production fell 17.7 percent…


HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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