Year-to-date production, $1.852 trillion as of Halloween, was up 131.5% from last year. It’s a foregone conclusion that Fannie and Freddie this month will top the current $1.912 trillion annual record for GSE MBS issuance set back in 2003.
The fix-and-flip lender relaunched production in September but doesn't expect originations to return to pre-COVID levels until the second quarter of 2021.
The refinance business for private MIs fell 11.0% from the second to the third quarter, dropping to 30.6% of their production. Still, that’s well above historic norms...
Gripes about mortgage applications hit a historical high, jumping 29.9% sequentially to 1,609 in 3Q20. The nine-month reading registered a stunning 124.6% spike year-over-year.
On Friday, Black Knight Financial released its forbearance tally, saying the measurement declined 137,000 units for the seven-day period ending Nov. 3. Roughly 2.9 million mortgagors are in some type of COVID-related relief program or 5.45% of those with a first lien...
The result was that nonbanks at the end of September accounted for 49.1% of the top-50 market, a measurement that includes a substantial volume of subservicing.
Year-to-date issuance climbed to $2.468 trillion at the end of October and should top $3 trillion based on the current pace. As of this writing, there appears to be plenty of gas still left in the tank.
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