Originations of interest-only mortgages increased in the second quarter, but not enough to move production ahead of the pace set halfway through 2017, according to a new ranking and analysis by Inside Nonconforming Markets. A group of 15 lenders originated $5.08 billion of IOs in the second quarter, a 25.2 percent increase from the previous period. Through the first six months of the year, the lenders had $9.13 billion of IO originations ... [Includes one data chart]
Issuance of expanded-credit mortgage-backed securities is moving at a steady pace, but deal sizes are declining and loan seasoning is increasing, suggesting a slowdown in originations. Redwood Trust is set to issue a $362.7 million deal, according to presale reports by Kroll Bond Rating Agency and Moody’s Investors Service. It’s the fourth expanded-credit MBS of the year from Redwood, including a $520.5 million issuance in May and a $417.0 million deal in July. The average seasoning ...
Originations of adjustable-rate mortgages increased by 25.0 percent on a quarterly basis in the second quarter of 2018, according to a new ranking and analysis by Inside Nonconforming Markets. An estimated $55.0 billion of ARMs were originated in the second quarter. The increase looks to be tied to seasonal factors and trends in interest rates. Through the first half of 2018, an estimated $99.0 billion of ARMs were originated, down 2.0 percent from ... [Includes one data chart]
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