High interest rates and tighter credit boxes led to a decrease in originations of non-agency jumbos in the third quarter of 2023. (Includes data table.)
Lakeview Loan Servicing has been the most active buyer of Ginnie Mae servicing rights since the beginning of 2022, dominating both the bulk and coissuance markets. (Includes two data tables.)
Massive portfolio restructuring at the Federal Reserve led to a huge increase in production of Fannie and Freddie Supers MBS in the third quarter. Activity looks to be returning to normal. (Includes two data tables.)
Correspondent production was the only channel to post a gain in the third quarter, and competition appeared to be heating up. (Includes six data tables.)
Overall deliveries to the GSEs fell 11.0% in October and were down 51.2% year-to-date compared to 2022. That’s largely due to the decline in refis, which are off 85% compared to the first 10 months of last year. (Includes two data tables.)
Most nonbank mortgage lenders saw solid earnings gains from the second to the third quarter, although a few still struggled. Homebuilder affiliates as a group were more profitable in the first nine months of 2023 than they were last year. (Includes data table.)
UWM was the top originator of purchase loans for the first nine months of 2023, while Rocket held the lead in refinance lending. The FHA saw a rising share of purchase loans sold to the agencies in the third quarter. (Includes four data tables.)
The baseline loan limit for one-unit properties will be $766,550 next year. Home prices are projected to continue to rise in 2024 but the rate of growth is open to debate.
Annaly Capital Management remained the biggest REIT investor in the MBS market, but AGNC Investment gained a lot of ground in the third quarter. (Includes two data tables.)
The SEC has finalized a rule prohibiting certain conflicts of interest in the securitization market. Industry participants are largely happy with changes in the final version of the rule.
The red-hot vehicle ABS market saw intense competition between S&P and Fitch for ratings supremacy. Kroll rode the resurgent ECM MBS market to boost its share of rated issuance. (Includes two data tables.)
Expanded-credit mortgage originations declined by 8.0% in the third quarter, continuing a downward slide that started earlier this year. (Includes data table.)
LoanNex reported an increase in non-QM pricing scenarios in October as borrowers are more willing to lock loans in the current interest rate environment.
The FHFA increased the baseline conforming loan limit by 5.6% for 2024, while new research finds increasing conforming loan limits impacts home prices and loan volumes.
A group of 20 servicers tracked in our rankings increased total nonprime servicing volumes by 11.1% on an annual basis as of the end of September. (Includes data table.)
While most publicly traded companies reported positive results on their production and servicing income, the MBA found that nearly half of the industry failed to turn a profit in the third quarter. (Includes data table.)
Servicing for others by banks and thrifts was nearly unchanged in the third quarter at $3.14 trillion as MSR fair values rose to a historic high of 1.65% of the underlying servicing volume. (Includes data table.)
Guild’s originations unit swung to profitability in the third quarter even as originations declined. Leaders of the nonbank said strong demand from correspondent buyers prompted changes in models used for calculating the value of lock commitments and mortgages held for sale.
The rate of foreclosures is too small to play a meaningful role in boosting housing supply, according to panelists at a recent Urban Institute conference.
The broker share of the government-insured market declined to 20.4% in the third quarter, down from 21.2% in the second quarter. (Includes data table.)
FHA lacks sufficient safeguards to monitor its lenders and servicers and to prevent ineligible loans and claims in its mortgage insurance program, according to the HUD’s Office of Inspector General.
The revisions would increase the maximum allowable rehabilitation costs for a limited loan, update the rehab period for both standard and limited loans, and allow higher fees for program consultants.
While most publicly traded companies reported positive results on their production and servicing income, the MBA found that nearly half of the industry failed to turn a profit in the third quarter. (Includes data table.)
UWM was the top originator of purchase loans for the first nine months of 2023, while Rocket held the lead in refinance lending. The FHA saw a rising share of purchase loans sold to the agencies in the third quarter. (Includes four data tables.)
Expanded-credit mortgage originations declined by 8.0% in the third quarter, continuing a downward slide that started earlier this year. (Includes data table.)
Annaly Capital Management remained the biggest REIT investor in the MBS market, but AGNC Investment gained a lot of ground in the third quarter. (Includes two data tables.)
In an analysis of CFPB Director Rohit Chopra’s leadership calendar, Inside the CFPB found he engages with several stakeholders outside of the agency’s walls, including frequent talks with trade groups and consumer advocates. (Includes data table.)
After a strong run-up in earnings spanning more than a year, the Federal Home Loan Banks posted a modest decline in quarterly income in the third quarter. (Includes three data tables.)
The broker share of the government-insured market declined to 20.4% in the third quarter, down from 21.2% in the second quarter. (Includes data table.)
After a strong run-up in earnings spanning more than a year, the Federal Home Loan Banks posted a modest decline in quarterly income in the third quarter. (Includes three data tables.)