Although three big banks reduced their first-lien portfolios during the second quarter, total holdings by banks and thrifts increased. (Includes data chart.)
IO lending among a group of 15 prominent lenders increased by 35.3% in the second quarter. Banks accounted for nearly all of the increase. (Includes data chart.)
The impairment rate on non-QM MBS declined to 19.3% in July from 20.4% in June. While loan performance is improving, MBS investors could suffer reduced cash flows and losses as modifications end.
The majority of loans in Goldman's MBS were included in deals issued in 2017 and 2018 that were subsequently collapsed. Angel Oak, Chase and MFA also issued MBS within the past two weeks.
A new analysis of HMDA data provides some insight on borrowers who received jumbo mortgages last year. The median property value securing jumbos originated: A cool $1.17 million.
A proposal by the FHFA regarding capital requirements could help non-agency execution options better compete with the GSEs due to an expected increase to the guarantee fees charged by Fannie and Freddie.
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