Agency securitizations of correspondent loans were sharply down in the first quarter of 2024 as volume dropped across the board. Refinances made a surprising surge, while credit quality remained unchanged. (Includes two data tables.)

Philadelphia-based Republic Bank focused its mortgage production on jumbos with below-market rates. The bank also held agency MBS that lost value as interest rates increased.

As home affordability remains elusive, the housing industry is raising the profile of assumable loans.

Speakers at a recent Women in Housing and Finance conference detailed how their companies have incorporated AI and the positive results from the tool.

The Federal Open Market Committee this week announced lower caps for Treasury runoff and a tweak to its MBS activity.

Profits at Fannie Mae and Freddie Mac weathered a steady decline in mortgage purchases and shrinking mortgage holdings. (Includes data table.)

Peter Norden, CEO of Homebridge Financial, is transforming his once top-40-ranked GSE lender into a HELOC originator and securitizer. Margins in conventional lending, he said, are non-existent.

Ares will contribute 90% of the joint venture capital while AmWest will provide the remainder. AmWest will also the provide the non-QM loans for securitization.

San Diego-based Ascent and Washington, DC-based MPOWER separately began marketing their first student loan ABS in recent weeks. The firms operate online platforms and partner with banks on originations.

Even though the mortgage market continued to struggle, Fannie Mae and Freddie Mac generated healthy profits in the first quarter of 2023 thanks to their business models.