The government-sponsored enterprises Fannie Mae and Freddie Mac are issuing multifamily MBS in 2016 at a rate that should approach and perhaps exceed $100 billion by the end of the year, according to the latest data and projections from the pair. That compares with a Federal Housing Finance Agency GSE scorecard cap of $31 billion in volume for each, up $1 billion over last year. However, there’s a good bit of wiggle room there because Fannie and Freddie essentially have “capped” and “uncapped” buckets. The more active of the two, Fannie, churned out $12.6 billion of new multifamily MBS in the first...

Fannie, Freddie and Ginnie continue to dominate in multifamily mortgage securitization, capturing a combined 93.6 percent of the market in the first quarter.

Impac's residential servicing portfolio increased by 45 percent on a sequential basis to an unpaid principal balance of $5.2 billion.

Chase continues to retain large amounts of conforming mortgages in portfolio...

Christopher Whalen, senior managing director at KBRA, noted that most of the megabanks “are showing lower mortgage banking lines, which includes MBS desk P&L [profit and loss]. Gain-on-sale is also down about 50 percent year-over-year, so that’s another factor in the balance.”

Was the TRID mess overblown? Tell that to all the mortgage firms that lost money on deals...

However, the new Cordray letter provides no details on where it will land on errors.

Quicken Loans, for example, reported a 4.9 percent increase in total originations compared to 4Q15. An estimated 81.0 percent of the nonbank’s production in 2015 was refinance loans…

Molly Boesel, a senior economist at CoreLogic, noted that in judicial states, servicers must provide evidence of delinquency to the courts in order to move a borrower into foreclosure.

Comments are due on Friday from working group members that have been participating in the effort.