Data from agency MBS issued in the second quarter suggest that first-time buyers accounted for just over half of the purchase loans sold to Fannie Mae, Freddie Mac and Ginnie Mae during that period.
Fannie’s findings are based on intelligence from 211 senior executives at 192 shops. Roughly 50 of those lenders are considered "larger," which means they funded $2.25 billion or more in the last full calendar year...
With the CDC no longer able to offer eviction protection to those delinquent renters, speculation now turns to whether the federal agencies in charge of housing policy, including the Federal Housing Finance Agency, will institute a moratorium of their own.
As originations go, so goes the warehouse sector. In 2Q21, commitment levels reached a new high but borrowing nonbanks are now trimming how much credit they will need for the rest of the year. (Includes data chart.)
It’s assumed that third-quarter originations will be down compared to 1Q and 2Q, but lenders remain sanguine about the short term. Also, some are finding solace in non-QM production.
The plans will focus on reducing the racial and ethnic homeownership gap and helping to mitigate underinvestment and undervaluation in previously redlined neighborhoods.
Following the recent coordinated action by federal agencies against Cadence Bank for redlining, compliance attorneys have suggested now is not the time for mortgage companies to let their guard down.
A risk-based capital regime could be in the works for Fannie and Freddie, though some GSE watchers suggest the whole exercise could be in flux. Meanwhile, Wells Fargo has a new servicing chief, Ann Thorn from Caliber Home Loans.
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