The agency estimates that collectively, borrowers are missing out on $13.0 billion per year in foregone savings…

The outstanding supply of Fannie Mae, Freddie Mac and Ginnie Mae servicing continued to grow during the first quarter of 2017 despite a downturn in new mortgage-backed securities issuance by the three agencies, according to a new analysis and ranking by Inside Mortgage Finance. A total of $6.225 trillion of agency single-family MBS was outstanding at the end of March, up 1.4 percent from December 2016. That number does not include agency servicing of whole loans held on the books of Fannie and Freddie, or a smattering of adjustable-rate mortgages in seasoned Freddie securities. Freddie posted...[Includes two data tables]

Based on mortgage results reported thus far, the first quarter was a nasty time for new originations for both the megabanks and some of the regionals, with non-depositories reporting slightly more benign production figures. Market leader Wells Fargo posted a hefty 38.9 percent one-quarter drop in mortgage originations. Second-ranked JPMorgan Chase reported a slightly less severe 23.0 percent drop in home loan funding. Citigroup, which a few months back made a strategic decision to deemphasize its role in home lending, suffered a 32.1 percent drop. Then there’s...

On Impac’s wish list: buy others, grow servicing and make more non-QM loans…

While the market for nonprime MBS was relatively strong during the first quarter, Moody’s said some investors have shied away from the sector.

But there was some good news: BofA reported $4.05 billion of second lien production in the first quarter, a 13.7 percent improvement from the prior period.

In 2016, Movement Mortgage added 201 branches in five states. It now has 662 locations in 47 states.

Of course the bigger question is this: what role, if any, will the Fed play in deciding the future of Fannie and Freddie?

Private capital needs to return to the mortgage market to make the market less dependent on taxpayers, according to JPMorgan Chase. The company dedicated portions of its latest annual report to call for a number of changes that could increase non-agency lending. According to Chase, a “healthy” non-agency mortgage-backed security market hasn’t resumed eight years after the financial crisis because housing finance reform and other securitization standards ...

Small banks reduced the share of non-qualified mortgages they originated in 2016, but some nonbanks are expected to significantly increase their activity in the sector. Non-QMs accounted for 9.0 percent of the mortgages originated by participants in the American Bankers Association’s annual real-estate lending survey. Some 159 banks were surveyed by the trade group and about 76.0 percent of the participating institutions had assets of less than $1.0 billion. In 2015 ...