New issuance of agency single-family MBS climbed for the eighth consecutive month in October, according to a new Inside MBS & ABS analysis and ranking. Fannie Mae, Freddie Mac and Ginnie Mae issued a total of $93.01 billion of new single-family MBS during October, up 2.1 percent from September. October production was the highest monthly volume for the market since October 2013, and reflected steady growth since new issuance bottomed out in March of this year. But the gain was...[Includes two data charts]
Of the dozen or so mortgage company sales that have been announced over the past two months, just one has involved a servicing portfolio of any size and even that transaction – $1.5 billion of mortgage servicing rights owned by Continental Home Loans – was small. In today’s merger and acquisitions market, it’s all about building loan origination capacity as buyers such as Freedom Mortgage, LoanDepot and Guild Mortgage try to keep growing. Moreover, this thirst for production comes...
Nonbank mortgage servicers continued to gradually expand their share of the market during the third quarter of 2014, but the pace has clearly slowed. Nonbank institutions accounted for 27.2 percent of the $7.389 trillion of servicing controlled by the top 50 servicers in the industry, according to a new Inside Mortgage Finance ranking and analysis. The nonbank share of the top 50 in combined servicing was up from 26.8 percent at the midway point in 2014 and 24.0 percent in September 2013. The nonbank expansion has slowed...[Includes two data charts]
The mortgage insurance industry lost a key political ally with the reelection defeat of first-term Democratic incumbent Sen. Kay Hagan of North Carolina.
The FHFA has decided not to have a chairman for Common Securitization Solutions. Instead, the unit will be governed by a four-person "board of managers."
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