Private mortgage insurers captured a larger share of the purchase-mortgage market during the third quarter of 2017 as the credit profile of new FHA production tilted toward riskier business, according to a new Inside Mortgage Finance analysis. Fannie Mae and Freddie Mac securitized $64.59 billion of purchase loans with private MI coverage during the third quarter, a 28.5 percent jump from the previous period. That was substantially greater than the ... [Includes three data charts]
The agency single-family MBS market continued cranking along during the third quarter of 2017, but other sectors in structured finance saw weakening issuance, according to an exclusive new analysis and ranking by Inside MBS & ABS. Some $407.55 billion of MBS and ABS – excluding collateralized debt obligations and agency credit-risk transfer deals – were issued during the third quarter. That was off 4.9 percent from the previous three-month period and it ... [Includes three data charts]
Roughly 9.8 percent of Ginnie Mae’s outstanding MBS portfolio may be potentially at risk due to hurricanes Harvey, Irma and Maria, according to data released recently by the agency. The tally represents the number of Ginnie loans and their unpaid principal balance amounts in the presidentially declared disaster areas in Texas, Florida, Georgia, Puerto Rico and the U.S. Virgin Islands. A total of 1.066 million mortgages with a UPB of $184.5 billion have been affected. Ginnie’s current MBS portfolio totals $1.9 trillion
Still, the deal world grinds forward. “Ten days ago, sales were dead, but interest is picking up again,” said Mark Garland, president of MountainView Servicing Group…
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