Fun fact: Ginnie Mae regularly captures 95% or more of new FHA and VA loan production...

In a research note, Keefe, Bruyette & Woods said that following Gilbert’s stock sale his interest in Rocket Companies will drop to 93% from 94%.

The number of complaints in the annual report submitted to Congress is substantially higher than figures reported on the bureau’s public-facing website...

Trends varied at the three big banks in the jumbo market. Wells Fargo, for instance, paused originations of the loans through correspondents in the second half of the year...

Meanwhile, industry consultant Christopher Whalen noted, “What a difference a year makes. Twelve months ago, some of the industry’s largest independent mortgage banks were in danger of tipping over due to the liquidity wave unleashed by the FOMC in response to COVID."

PennyMac Financial was, hands-down, the top producer in the correspondent channel with $60.51 billion, a 24.2% increase from 2019.

Thanks to rising rates, mortgage stocks have been under pressure of late but most of the declines have affected lenders that recently went public as opposed to “older” firms such as Mr. Cooper and PennyMac Financial Services.

“Volume is holding up pretty strong,” said Bill Lowman, CEO of American Pacific Mortgage, Roseville, CA.

The slope also remained slippery for home-equity debt outstanding. The Federal Reserve reported $441.6 billion of home-equity loans outstanding at the end of 2020, an 11.9% drop from the previous year.

Thrifts posted a hefty 11.2% increase in their MBS portfolios, while credit unions boosted their holdings by 7.8%...