Meanwhile, the CFPB issued a report that warns of widespread evictions and foreclosures once “federal, state, and local pandemic protections come to an end, absent additional public and private action.”
Due partly to the pandemic, which had an outsized negative impact on non-agency lending, the jumbo sector saw its share of overall originations drop to just 9.7% in 2020 from 16.7% in 2019.
At year-end, REIT MBS holdings were down 25.2% from the comparable period in 2019. While industry-wide growth was tepid in the fourth quarter, several institutions upped their investments significantly.
Never in the annals of mortgage banking has one nonbank ever put together a half-year where net profits landed north of $5.25 billion. Note: Quicken’s gain-on-sale margin for 4Q20 was calculated at 441 basis points compared to 578 bps in 3Q20.
“The number of primary delinquent loans was 55,537 as of December 31, 2020, compared to 62,737 as of September 30, 2020 and 21,266 as of December 31, 2019,” Radian noted in its earnings report.
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