GSE MBS issuance declined by 3.3% on a monthly basis in July. Fannie lost a little market share to Freddie during the month. (Includes two data tables.)
Chase remains the largest servicer of GSE loans at the halfway mark this year, but a 16.4% surge in volume at Mr. Cooper Group, the number two GSE servicer, cut deeply into Chase’s lead. (Includes two data tables.)
The lender is offering a temporary 125-basis-point incentive on VA Interest Rate Reduction Refinance Loans and non-credit-qualifying FHA streamline loans.
Nearly all of the top 30 GSE sellers managed to increase deliveries to the enterprises in the second quarter, helping drive a 33.1% sequential bump in sales. Even so, year-to-date deliveries were down slightly. (Includes two data tables.)
The volume of government purchase loans securitized into Ginnie Mae mortgage-backed securities grew in May for the third month in a row. Refi volume declined somewhat compared with April.
The program provides borrowers a 3% downpayment assistance second lien with up to $15,000 in financing. The loan does not accrue interest and does not require a monthly payment.