Banks, thrifts and credit unions increased their agency mortgage-backed security issuance by 0.9 percent from the second to the third quarter, while nonbank issuance was down 1.3 percent.
A significant percentage of active Ginnie Mae issuers use subservicers in their operations, and agency officials estimate that 22 subservicers handle roughly a third, or $510 billion, of the program’s portfolio. The four top subservicers handle approximately 21 percent of Ginnie’s total portfolio or 65 percent of the subserviced portion. During the recent Ginnie Mae annual conference in Arlington, VA, representatives from Lakeview Loan Servicing, Pingora Asset Management and ...
Fannie Mae and Freddie Mac saw a modest decline in the flow of home loans into their mortgage-backed securities programs during the third quarter of 2015, according to a new analysis and ranking by Inside Mortgage Finance. The two government-sponsored enterprises issued a total of $223.47 billion of single-family MBS during the third quarter, a 3.8 percent decline from the previous quarter. Freddie had a slightly larger downturn (4.1 percent) than Fannie (3.6 percent). Although overall MBS volume was down, lenders delivered...[Includes three data tables]
The flow of FHA purchase mortgages jumped 37.7 percent from the second to the third quarter, and VA purchase mortgages rose 37.9 percent over the same period.
On the conventional product, the loans have an average age of 23 months and delinquencies in the 3.0 percent range. Almost 80 percent of the loans are in California.
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