But the most telling sign of how the banking industry has lost its grip on home lending rests in the number of depositories that rank among the top 20…
Nonbanks have dominated the Ginnie Mae MBS issuer ranks for several years, and they are gradually claiming a bigger share of the government-sponsored enterprise market, according to a new analysis by Inside MBS & ABS. [Includes one data chart.]
Close to $500 million worth of VA Interest Rate Reduction Refinance Loans that do not meet new seasoning requirements ushered in under the recently approved Dodd-Frank reform act are in “orphan status,” causing financial headaches for the lenders that originated them.
The influx of mortgages eligible for sale to the government-sponsored enterprises being delivered to non-agency MBS is largely credit-neutral for MBS investors, according to rating services.