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Mortgage Activity With MI Increases in Third Quarter
October 10, 2024
Some $189.08 billion of loans with insurance coverage were included in agency MBS issued in the third quarter, a 13.6% increase from the prior period.
Foreclosures Decline in Third Quarter; Many Alternatives
October 10, 2024
Foreclosure activity declined by 2% in the third quarter of 2024 compared with the previous quarter.
CSBS Plans to Move Forward With NMLS Fee Hike
October 10, 2024
“Without an increase in NMLS processing fees, CSBS staff projected losses of nearly $133 million over the next decade,” CSBS said in a report in response to feedback received on the proposal.
Trended Credit Data Offers New Insights on MBS Performance
October 10, 2024
Andrew Davidson & Co. used data on credit use, balance and payment across time and multiple loan types to garner a comprehensive view of consumer financial behavior.

Buybacks
Lender Buybacks Steady in 2Q, Pending Claims Rise
While seller repurchases of Fannie loans fell sharply in the second quarter, buybacks of Freddie loans were up. Rocket Mortgage and United Wholesale Mortgage ranked at the top of GSE buybacks for the first half of the year. (Includes three data tables.)
Channels
Retail Footprint Grows in Conventional Lending
The retail share of conventional-conforming production rose by more than three percentage points while government and nonconforming lenders turned toward correspondents. (Includes two data tables.)
Originations
Nonbank Share of Lending Up in First Half of 2024
Depository institutions pulled back, to some extent, from mortgage lending in the first half of 2024 and nonbanks stepped in to fill the void. Nonbanks accounted for nearly 65% of originations in the first six months. (Includes two data charts.)
Originations
Home Equity Lending Activity Increases in Second Quarter
The biggest increases in home equity lending this year have been seen at nonbanks. Rocket Mortgage more than doubled its originations of closed-end second liens in the first half of 2024 from a year ago. (Includes three data charts.)
Portfolios
First-Lien Holdings at Banks and Thrifts Rise in Second Quarter
Banks and thrifts grew their first-lien portfolios from March to June despite a decline in portfolio sizes of some of the largest depositories. (Includes data table.)
Ginnie Mae Issuance
August Ginnie Issuance Highest in Nearly Two Years
Refinance activity drove much of the increase in Ginnie MBS issuance between July and August. Freedom Mortgage remained the top Ginnie issuer, but its production was down 1.9% from July. (Includes two data tables.)

Inside Mortgage Finance

New Construction Rising But Not Enough to Keep Up With Demand
The NAHB projects that new builds of single-family homes will continue to rise in the coming quarters.
Tensions Grow Between the Biden Administration and the FHLBanks
Deputy Secretary of Treasury Wally Adeyemo hinted that the government might reduce its support of the FHLBanks if they don’t put more funds toward affordable housing.
- A Change of Tune for Mortgage Company Investors
- Ginnie Mae Leads Agency Servicing Over $9 Trillion
More Inside Mortgage Finance

Inside MBS & ABS

Asset Securitization Market Hits 2-Year High in Third Quarter
October 3, 2024
Issuance of residential MBS was up 11.9% in the third quarter, thanks to a decline in interest rates that sparked increased refinance activity and bolstered purchase-mortgage lending. (Includes three data tables.)
Investors Protected as Delinquencies on Non-QMs Rise
October 3, 2024
Delinquencies on securitized non-QMs are increasing. But market participants believe there is so much credit enhancement on the deals, plus home equity, that it’s a non-issue for now.
CMBS Facing Most Pressure in MBS and ABS Market
October 3, 2024
Delinquencies are projected to increase across asset classes, though some sectors will be hit harder than others.
House Republicans Urge Fed to Prioritize Issuance of CLNs
October 3, 2024
The Federal Reserve should allow banks to increase issuance of credit-linked notes, according to House GOP lawmakers.

More Inside MBS & ABS

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Inside Nonconforming Markets

Brokers Gain Share in Nonconforming Market
September 27, 2024
Brokers took ground in nonconforming loan originations from retail and correspondent lenders during the first half of 2024. (Includes two data tables.)
Uncertainty on Conforming Loan Limits for 2025
September 27, 2024
As in previous years, several large lenders have announced increases to conforming loan limits ahead of the FHFA’s official release. However, this time there’s a risk that some lenders overshot where conforming loan limits will be set in 2025.
A&D Teams With Atlas for ECM Securitization Venture
September 27, 2024
The new joint venture has already issued its first MBS, with expanded-credit mortgages originated by A&D Mortgage.
Rate Cuts Unlikely to Boost Fix-and-Flip Activity
September 27, 2024
Despite interest rate cuts from the Federal Reserve, fix-and-flip lenders believe a lack of inventory and traditional seasonality will lead to a quiet end to 2024.

More Inside Nonconforming Markets

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Inside Mortgage Trends

Fannie/Freddie Risk Profile Mixed in Third Quarter
October 4, 2024
Sellers to the GSEs sold a larger share of new single-family mortgages with lower credit scores in the third quarter of 2024. But they also in-creased deliveries of mortgages with lower loan-to-value ratios. (Includes two data tables.)
Agency MBS Activity With MI Continues to Increase
October 4, 2024
Purchase mortgages with primary mortgage insurance pooled into agency MBS increased by 9.7% from the second quarter, while refinance volume spiked by 40.2%. (Includes two data tables.)
Standardization Can Help Mitigate Risk Tied to Remote Work
October 4, 2024
Companies should implement consistent trainings for all new hires to help mitigate risk and create standard expectations.
Survey Finds More Deals Failing Due to Contingency Issues
October 4, 2024
Loan officers are increasingly offering clients buy-before-you-sell products to help them beat contingencies issues, according to HomeLight, a provider of buy-before-you-sell products.

More Inside Mortgage Trends

Inside FHA/VA Lending

Correspondents Regain Share Among Government Lenders
The correspondent channel’s share of government-insured lending increased in the second quarter, but it was still down on a year-to-date basis from the first half of 2023. (Includes data table.)
Government Housing Officials Outline Regulatory Updates
At a conference on regulatory compliance and risk management this week, industry executives and government officials reiterated the importance of collaborating on policy to adapt to changes in the housing market.
Housing Counselors Urged to Train Staff on HECMs
Housing counseling agencies should increase training on home equity conversion mortgages to accommodate the rise in older Americans who want to age in place, according to FHA Commissioner Julia Gordon.
Groups Seek Tweaks to Proposal on FHA Loan Sales
In July, FHA proposed a new rule governing the sale of seriously delinquent single-family home loans when they’re no longer insured by the agency.

More Inside FHA/VA Lending

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Inside Mortgage Trends
Fannie/Freddie Risk Profile Mixed in Third Quarter
Sellers to the GSEs sold a larger share of new single-family mortgages with lower credit scores in the third quarter of 2024. But they also in-creased deliveries of mortgages with lower loan-to-value ratios. (Includes two data tables.)
Inside Mortgage Finance
Ginnie Mae Leads Agency Servicing Over $9 Trillion
It’s no surprise that Ginnie, and nonbank servicers, saw the biggest gains in the agency MSR market in the third quarter. Freedom Mortgage made noise growing its portfolio by nearly 20%.
Inside Nonconforming Markets
Brokers Gain Share in Nonconforming Market
Brokers took ground in nonconforming loan originations from retail and correspondent lenders during the first half of 2024. (Includes two data tables.)
Inside MBS & ABS
Asset Securitization Market Hits 2-Year High in Third Quarter
Issuance of residential MBS was up 11.9% in the third quarter, thanks to a decline in interest rates that sparked increased refinance activity and bolstered purchase-mortgage lending. (Includes three data tables.)
Inside the CFPB
CFPB Working on Reducing Regulations for Refinances
The CFPB is looking into whether it’s necessary to recertify a borrower’s ability to repay a rate-term mortgage refinance, Kevin Stevens, a senior manager at the bureau, said at a Mortgage Bankers Association conference held in Washington, DC, last week.
Inside The GSEs
Smaller Lenders Ride GSE Market Uptick in Third Quarter
Nonbanks of all sizes, except for HFAs, lost market share to all types of depositories. Even so, the rankings of the top 10 GSE sellers barely changed in the third quarter. (Includes two data tables.)
Inside FHA/VA Lending
Correspondents Regain Share Among Government Lenders
The correspondent channel’s share of government-insured lending increased in the second quarter, but it was still down on a year-to-date basis from the first half of 2023. (Includes data table.)

Inside The GSEs

Smaller Lenders Ride GSE Market Uptick in Third Quarter
Nonbanks of all sizes, except for HFAs, lost market share to all types of depositories. Even so, the rankings of the top 10 GSE sellers barely changed in the third quarter. (Includes two data tables.)
FHFA Re-Proposes Rule on Suspended Counterparty Program
Industry players had raised concerns that the original proposal would have been too broad and included misconduct that didn’t affect safety and soundness.
More Inside The GSEs

The mortgage industry has been shedding jobs for a while now, but some lenders — particularly ones that focus on non-QMs — are talking about staffing up in anticipation of increased originations. Is your shop planning to hire this year?