Riding a wave of heavy purchase-mortgage activity, Ginnie Mae issuers produced a record $128.23 billion of single-family mortgage-backed securities during the third quarter of 2015, according to a new Inside FHA/VA Lending ranking and analysis. The third-quarter figure, which includes FHA home-equity conversion mortgage MBS, was up 6.5 percent from the second quarter of this year. The previous record was $125.68 billion, set back in the third quarter of 2009. Loan-level MBS data, which do not include HECMs and have truncated loan amounts, show hefty gains in purchase-mortgage activity that more than offset sharp declines in refinance business. The flow of FHA purchase mortgages jumped 37.7 percent from the second to the third quarter, and VA purchase mortgages were up 37.9 percent over the same period. Meanwhile, refinance volume fell ... [ 2 charts ]
Loan origination data for 2014 that were released last week by federal regulators show that the conventional mortgage market was considerably bigger than previously estimated – and that production levels this year are rising. Home Mortgage Disclosure Act data show that lenders covered by the law’s reporting requirements originated $969 billion of conventional purchase and refinance loans last year. About $232 billion of that amount came in loans exceeding the county-level conforming loan limits in effect for Fannie Mae and Freddie Mac last year. The remainder, $737 billion, represents...[Includes two data tables]
Rushmore is licensed in all 50 states, Washington DC, and Puerto Rico. It has offices in Irvine, Dallas and San Juan, PR, where it services roughly $1 billion in assets...
The CHLA suggests, among other things, that the U.S. Treasury stop sweeping all GSE profits and instead put that money in a capitalization reserve account...
The supply of residential MBS in the market grew tepidly in the second quarter of 2015, but not enough to increase the overall securitization rate for home mortgages. A total of $6.335 trillion of single-family MBS were outstanding at the end of June, a slim 0.1 percent increase from the previous quarter. The supply of MBS has been bouncing slightly higher and lower over the past six quarters, without gaining much traction. With total home mortgage debt outstanding climbing by 0.4 percent during the second quarter, the share of securitized loans fell...[Includes two data tables]
Mortgage origination volume was down sharply in 2014, but not by as much as previously thought, according to an Inside Mortgage Finance analysis of Home Mortgage Disclosure Act data released this week by federal regulators. A total of $1.242 trillion of single-family purchase and refinance loans were originated during 2014, the HMDA data reveal. That was down 29.5 percent from the 2013 HMDA total, although purchase-mortgage lending was up slightly in both the government-insured and conventional markets. HMDA first-lien purchase and refi originations came...[Includes one data table]
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