Mortgage origination volume was up in all three major production channels during the second quarter of 2014, according to a new Inside Mortgage Finance analysis and ranking. Retail originations remained the biggest source of new business, accounting for 61.0 percent of second quarter production. Total volume in the channel – which includes consumer-direct lending and traditional branch-office production – increased by 27.7 percent to an estimated $180 billion during the second quarter. Retail’s increase was higher than the overall 25.5 percent growth in total originations, nudging its share of the market slightly higher. Third-party originations were...[Includes four data charts]
Fannie Mae, Freddie Mac and Ginnie Mae each recorded double-digit increases in single-family business in July, marking the fourth straight monthly gain, according to a new ranking and analysis by Inside MBS & ABS, an affiliated newsletter. The three produced $85.3 billion of single-family mortgage-backed securities last month, an 11.6 percent increase from June’s volume. The biggest increase was at Fannie, where production was up 12.6 percent for the month. The steady gains in production starting in April have not been...
Mortgage-bond trustees – including Bank of New York Mellon and U.S. Bank – have agreed to accept JPMorgan Chase’s $4.5 billion settlement offer on behalf of a majority of aggrieved trusts.
The seller, which IMA would not identify, hopes to close the sale by Sept. 30. Just over 5,050 loans are in portfolio, which is top heavy in California.
A solid increase in non-agency commercial MBS issuance during the second quarter of 2014 provided most of the lift in new income-property securitizations, according to a new Inside MBS & ABS market analysis. A total of $36.69 billion of commercial mortgages were securitized during the second quarter, up 16.1 percent from the first three months of the year. At the midway point in 2014, new CMBS issuance remained 24.7 percent behind the heady levels recorded over the same period last year, which ended up being the market’s highest point since the financial crisis. Fannie Mae, Freddie Mac and Ginnie Mae saw...[Includes two data charts]
At the midway point this year, agency multifamily issuance was off 36.9 percent from the first half of 2013, and production was essentially flat in the second quarter.