About 70.4 percent of the home loans originated in 2017 were sold to secondary market investors, according to a new Inside Mortgage Trends analysis of Home Mortgage Disclosure Act data released this week. According to the preliminary HMDA data made available by federal regulators, lenders reported $1.738 trillion in first-lien single-family mortgage originations in 2017. HMDA data cover about 96 percent of the market. The biggest buyers were Fannie Mae ... [Includes one data chart]
Mortgage sellers continue to get a little more adventurous in the kinds of loans they deliver to Fannie Mae and Freddie Mac, according to an exclusive Inside Mortgage Trends analysis of data on mortgage-backed securities issued during the first quarter of 2018. The credit loosening was more apparent in the purchase-mortgage sector, which saw declining production volume from seasonal factors. In the first quarter, 12.61 percent of purchase loans sold ... [Includes two data charts]
A former Fannie executive (pre-federal takeover) said that when he worked at the GSE, “We looked at doing this, but were told it wasn’t in the charter and so we didn’t proceed.”
Fannie Mae and Freddie Mac continued to whittle away at their retained mortgage portfolios during the first quarter, though the pair still had $469.3 billion of MBS and whole loans on their books at the end of March. [Includes one data chart.]
A proposed merger between telecommunication giants T-Mobile US and Sprint Corp. would provide a credit boost for Sprint’s spectrum ABS but not for the wireless tower ABS sector, according to a report from Moody’s Investors service.
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