“For MBA, the most critical issue to address before releasing the GSEs is the establishment of an explicit federal backstop for mortgage-backed securities,” according to Bob Broeksmit, president and CEO of the Mortgage Bankers Association.
Nonbanks reported a massive $1.38 million decline in mortgage-banking income during the third quarter. Most of that was because of accounting issues related to servicing.
While retail continued to be the top channel in securitizations of conforming loans, correspondents gained 294 basis points of market share in the third quarter.
Portfolio management of the Federal Reserve’s agency MBS holdings accounted for much of the Fannie/Freddie Supers issuance in the third quarter. (Includes two data tables.)
Government-insured products accounted for 27.1% of total first-lien originations in the third quarter compared with a 25.3% share the previous quarter. Streamline refi programs helped increase FHA/VA market share. (Includes two data tables.)
Combined, non-agency jumbos and conforming jumbos accounted for 16.1% of total originations during the third quarter. Nonbanks are increasing their lending as some banks pull back. (Includes three data tables.)
With record levels of new CLO coming to market over the past six months, commercial banks have stayed on the sidelines, allowing their CLO portfolios to slowly decline. (Includes data table.)
Radian’s foray into the securitization business is more than just a passing fancy. The mortgage insurance company is considering branching out beyond prime jumbos.
Non-agency jumbo originations increased during the third quarter of 2024, though not enough to keep pace with the broader market. (Includes data table.)
With originations and loan sales rising across the industry in the third quarter, most companies booked income gains from those activities. Servicing, however, was a different matter. (Includes data tables.)
Investments in customer service can help both borrowers and servicers, according to industry participants. Servicers are using AI and other tech to help borrowers and potentially generate recapture business.
Digitization will speed up the lending process and can lead to lower interest rates for borrowers, according to Anne Canfield, partner at The Majority Group.
Lenders originated $112.67 billion of FHA and VA loans in the third quarter — the highest quarterly volume for the government loan programs since the second quarter of 2022. (Includes three data tables.)
FHA Commissioner Julia Gordon said it is probably time to consider FHA pricing adjustments. However, any decisions may need to wait until the next administration comes in. (Includes data table.)
Stanley Middleman, founder and CEO of Freedom Mortgage, said the next administration’s approach for FHA and VA should be “if it’s not broken, why fix it?”
With originations and loan sales rising across the industry in the third quarter, most companies booked income gains from those activities. Servicing, however, was a different matter. (Includes data tables.)
Combined, non-agency jumbos and conforming jumbos accounted for 16.1% of total originations during the third quarter. Nonbanks are increasing their lending as some banks pull back. (Includes three data tables.)
Non-agency jumbo originations increased during the third quarter of 2024, though not enough to keep pace with the broader market. (Includes data table.)
Going by Trump’s first term, the CFPB is expected to continue to regulate by enforcement, but isn’t likely to expand its jurisdiction into questionable areas.
A number of large banks have significantly scaled back their use of FHLBank advances, which is having an impact on the system’s income. In addition to rising voluntary investment in housing, the FHLBanks have boosted their single-family mortgage portfolios. (Includes three data tables.)
Lenders originated $112.67 billion of FHA and VA loans in the third quarter — the highest quarterly volume for the government loan programs since the second quarter of 2022. (Includes three data tables.)
A number of large banks have significantly scaled back their use of FHLBank advances, which is having an impact on the system’s income. In addition to rising voluntary investment in housing, the FHLBanks have boosted their single-family mortgage portfolios. (Includes three data tables.)