Fannie Mae and Freddie Mac saw a robust 29.7 percent jump in single-family mortgage business during the third quarter, with most of the gain coming from the purchase-mortgage side of the business. And more purchase-mortgage business usually means a bigger share for correspondent lenders. Correspondent originations accounted...[Includes two data tables]
JPMorgan Chase and Redwood Trust remained the only two active issuers of prime non-agency mortgage-backed securities as of the end of the third quarter of 2016, according to a new ranking and analysis by Inside Nonconforming Markets. A total of $4.07 billion in prime non-agency MBS was issued during the third quarter of 2016, more than five times the volume issued in the previous quarter. However, through three quarters this year, prime MBS issuance ... [Includes one data chart]
The share of adjustable-rate mortgages held in portfolio hit an exceptionally high level in the second quarter of 2016, according to a new analysis by Inside Nonconforming Markets. An estimated $53.00 billion in ARMs were originated in the second quarter of 2016 and $4.69 billion in ARMs were included in mortgage-backed securities issued during the period. The ARM securitization rate in the second quarter was 8.8 percent, down from 13.9 percent ... [Includes two data charts]
Special treatment for the government-sponsored enterprises regarding debt-to-income ratios on qualified mortgages and “emergency” high-cost loan limits accounted for about 25.0 percent of the single-family business that passed through the GSEs in the first half of 2016, according to an analysis by affiliated publication Inside The GSEs. In the first six months of 2016, Fannie Mae and Freddie Mac securitized $64.52 billion of single-family mortgages with DTI ratios ...
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