Latest News

Conforming-Jumbo Business Grows in Third Quarter
December 3, 2024
In the third quarter, conforming jumbos accounted for 5.4% of total agency business.
MBA Ready to Work on GSE Reform, Seeks Explicit Guarantee of MBS
December 3, 2024
“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.
CFPB Activity Up Ahead of Change in Administration
December 3, 2024
At the end of fiscal 2024, the bureau had 1,758 employees, up 5% from a year earlier.
Ellington to Securitize Closed-End Seconds Originated by PennyMac
December 3, 2024
It's the first securitization of closed-end second liens from the affiliate of Ellington Management Group.

Sales
Refinance Volume in GSE MBS Jumps in October
October deliveries to the GSEs were up 15.2% from September, largely due to a 66.4% sequential increase in refinances. (Includes two data tables.)
Earnings
Nonbank Earnings Pummeled by MSR Losses in 3Q
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.
Channels
Correspondents Gain Agency Market Share in Third Quarter
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.
Resecuritization
Second-Level MBS Issuance Slows in 3Q, CMO Down
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.)
Originations
Government-Insured Lending Share Up in Third Quarter
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.)
Securitization
Another Strong Quarter for Non-Agency MBS Issuance
Purchase-mortgage volume grew faster than refi activity in non-agency MBS issued during the third quarter. (Includes three data tables.)

Inside Mortgage Finance

Jumbo Lending Keeps Pace in 3Q, Conforming Jumbos Up
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.)
Trump Taps Scott Turner for Secretary of Housing
The former Texas lawmaker and NFL player was executive director of the White House Opportunity and Revitalization Council in Trump 1.0.
- MSR Market Unsettled by Emphasis on Recapture
- Cloudy Outlook for Lenders Hiring, LO Commissions
More Inside Mortgage Finance

Inside MBS & ABS

Banks Yawn at ABS Market; Portfolios Decline in 3Q24
November 27, 2024
New ABS issuance is about to set a new annual record in 2024, but banks remain largely disinterested in the sector. (Includes two data tables.)
Bank CLO Holdings Fade Despite Heavy 2024 Issuance
November 27, 2024
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.)
Annaly Bullish on Agency MBS in 2025
November 27, 2024
The real estate investment trust sees positives in agency MBS despite concerns around the future of the GSEs.
Radian Weighs Its Options in the MBS Game
November 27, 2024
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.

More Inside MBS & ABS

Poll

Inside Nonconforming Markets

GSEs Seen as Avenue for Property Insurance Reform
November 27, 2024
Urban Institute researchers suggest the GSEs push for universal flood insurance requirements and multiyear home insurance policies.
Jumbo Originations Continue Steady Increase in Third Quarter
November 22, 2024
Non-agency jumbo originations increased during the third quarter of 2024, though not enough to keep pace with the broader market. (Includes data table.)
Incoming Trump Team Could Threaten Housing Proposals
November 22, 2024
Industry watchers said potential changes at the GSEs under the new Trump administration could lead to challenges for the secondary market.
Roc360: The Newest Issuer of Rated RTL Securitization
November 22, 2024
Roc360’s latest RTL deal is the first from its real estate investment trust, which is a partnership with Temasek, a Singaporean sovereign wealth fund.

More Inside Nonconforming Markets

Videos

Inside Mortgage Trends

Servicing Diluted Solid 3Q Production/Sales Income
November 27, 2024
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.)
Banks’ Servicing for Others Unchanged in Third Quarter
November 27, 2024
Only two institutions among the top five banks reported an increase in SFO in the third quarter. (Includes data table.)
Servicers Improve Borrower Outreach, Eyeing ROI
November 27, 2024
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.
Digital Mortgage Originations Seen as Way to Cut Costs
November 27, 2024
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.

More Inside Mortgage Trends

Inside FHA/VA Lending

Strong Refi Market Drives FHA, VA Originations in 3Q
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.)
MMIF Capital Ratio Tops 11%. Will FHA Cut MIP?
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.)
Freedom CEO Expects Continuity for FHA, VA Under Trump
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?”
Valverde Set to Leave Ginnie at the End of the Month
Gregory Keith, senior vice president and chief risk officer at Ginnie Mae, will assume the duties of president starting next month.

More Inside FHA/VA Lending

Premium Newsletter Content

Inside Mortgage Trends
Servicing Diluted Solid 3Q Production/Sales Income
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.)
Inside Mortgage Finance
Jumbo Lending Keeps Pace in 3Q, Conforming Jumbos Up
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.)
Inside Nonconforming Markets
Jumbo Originations Continue Steady Increase in Third Quarter
Non-agency jumbo originations increased during the third quarter of 2024, though not enough to keep pace with the broader market. (Includes data table.)
Inside MBS & ABS
Banks Yawn at ABS Market; Portfolios Decline in 3Q24
New ABS issuance is about to set a new annual record in 2024, but banks remain largely disinterested in the sector. (Includes two data tables.)
Inside the CFPB
CFPB Set to Retreat From Chopra’s Aggressive Agenda
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.
Inside The GSEs
FHLBank Income Slumps in 3Q24, Portfolios Hold Steady
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.)
Inside FHA/VA Lending
Strong Refi Market Drives FHA, VA Originations in 3Q
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.)

Inside The GSEs

FHLBank Income Slumps in 3Q24, Portfolios Hold Steady
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.)
Fannie, Freddie Loan Limits Increase by 5.2% for 2025
In some high-cost areas, Fannie Mae and Freddie Mac will be eligible to purchase mortgage loans as high as $1,209,750 for one-unit properties in 2025.
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?