The Mortgage Bankers Association and the American Bankers Association separately called for the CFPB to keep an anti-evasion exception established during the pandemic to help facilitate loan modifications.
Deliveries to Fannie and Freddie rose last month even as the GSEs’ market share is the lowest since the global financial crisis. (Includes two data tables.)
Mortgage-banking income at banks increased by 65.6% on a sequential basis in the first quarter. Losses were rare among 358 banks reporting mortgage activity in call reports, though Bank of America took a hit. (Includes data table.)
Bank holding company trading accounts showed a 21% surge in residential MBS during the first quarter, mostly involving agency MBS holdings among the largest institutions. (Includes two data tables.)
Agency securitization of high-balance loans declined by 46.0% in the first quarter. The non-agency jumbo share of first liens was flat compared with the fourth quarter while the agency high-balance share dwindled. (Includes three data tables.)
Originations in the primary market are up, but not exactly flourishing. That’s so-so news for warehouse banks who — like everyone else — are waiting for interest rates to decline more dramatically. (Includes data table.)
Non-agency jumbos accounted for 13.8% of total first-lien originations in the first quarter of 2025, compared with an 11.1% share in the first quarter of 2024. Chase remained the top jumbo producer and Redwood Trust is gaining momentum. (Includes data table.)
Servicing outstanding increased by 2.8% on an annual basis as of the end of the first quarter of 2025. The largest gains in servicing during that time were seen at Ginnie Mae, whole loans at non-depository institutions and non-agency mortgage-backed securities. (Includes two data tables.)
The Mortgage Bankers Association has suggested the FHFA end its tri-merge process, replacing it with a single credit report rather than the bi-merge model as currently planned.
Insurance companies, pension funds and bank holding companies grew their agency MBS holdings substantially in the first quarter. Most of the market’s growth was in Ginnie and non-agency MBS. (Includes two data tables.)
Years after the agency first sought public comments on the regulation, the SEC’s Office of Structured Finance is interested in taking another crack at finding ways to improve the rules for ABS.
Fannie will take the first losses on the transaction, with additional losses borne by Bayview and investors in the deal. That’s a change from the typical CRT from Fannie where a third-party like Bayview isn’t involved.
New studies show that the expectation of future climate risk effects the current behavior of lenders and CRT can be used to estimate the true cost of hurricane risk.
Banks and thrifts have largely added to their overall holdings of residential first liens each quarter dating back to 2021. The decline seen in the first quarter of 2025 included a sharp drop in ARMs. (Includes data table.)
Short-term mortgages track residential transition loans and fix-and-flip loans. Last year, originations were up 34.6% compared with 2023. (Includes data table.)
The retail channel lost market share in conventional-conforming, government-insured and nonconforming originations in the first quarter of 2025. (Includes two data tables.)
HUD housing counseling services help streamline the application process for borrowers, saving originators time and money, panelists said last week at MISMO’s spring summit in Boston.
Although mortgage production and loan sales fell in the first quarter of 2025, banks and thrifts saw a significant increase in income from mortgage-banking operations. (Includes two data tables.)
Issuance of both purchase mortgages and refinances increased last month, with refi volume hitting its highest level since November. Most Ginnie issuers in the top 10 beat the overall monthly growth. (Includes two data tables.)
Appropriations to the FHA for administrative expenses would increase by $10 million over fiscal year 2025 funding levels under the Trump administration’s discretionary budget proposal.
FHA revised policies governing how servicers must engage with delinquent borrowers for loss-mitigation discussions. FHA said the changes will help servicers save on costs.
A second bill that would authorize the Department of Veterans Affairs to establish a partial claim program has joined a similar House-approved measure in the Senate Veterans Affairs committee’s pipeline.
The retail channel lost market share in conventional-conforming, government-insured and nonconforming originations in the first quarter of 2025. (Includes two data tables.)
Servicing outstanding increased by 2.8% on an annual basis as of the end of the first quarter of 2025. The largest gains in servicing during that time were seen at Ginnie Mae, whole loans at non-depository institutions and non-agency mortgage-backed securities. (Includes two data tables.)
Insurance companies, pension funds and bank holding companies grew their agency MBS holdings substantially in the first quarter. Most of the market’s growth was in Ginnie and non-agency MBS. (Includes two data tables.)
The Senate parliamentarian has advised Republicans that they cannot use the budget reconciliation process to eliminate the CFPB’s funding from the Federal Reserve.
Seller buybacks of defective loans declined in the first quarter of 2025, and the GSEs also reported an increase in withdrawn claims. The pipeline of unresolved cases was up. (Includes three data tables.)
Issuance of both purchase mortgages and refinances increased last month, with refi volume hitting its highest level since November. Most Ginnie issuers in the top 10 beat the overall monthly growth. (Includes two data tables.)
Seller buybacks of defective loans declined in the first quarter of 2025, and the GSEs also reported an increase in withdrawn claims. The pipeline of unresolved cases was up. (Includes three data tables.)