Nonbanks continued to amass agency servicing market share in early 2021 as many depository institutions allowed their portfolios to shrink.

Owned by Lone Star Funds, Caliber late last fall filed to go public but the IPO has been on hold for undisclosed reasons. Meanwhile, NRIC also said this morning that its previously announced IPO of NewRez will proceed.

Some $3.86 billion of expanded-credit MBS was issued in the first quarter, up 13.2% from 4Q20...

When it comes to forbearance, Black Knight noted widespread improvement “with all investor classes seeing significant declines" in active cases...

Some $11.40 billion of these loans — often used for fix-and-flip lending and bridge financing — were originated in 2020...

Old-fashioned rate-term transactions still accounted for most of the VA refi market, at 89.1% in the first quarter...

Some $81.01 billion of non-mortgage ABS came to market in the first quarter, a hefty 85.8% gain from the previous period.

The two government-sponsored enterprises saw a steeper 20.4% drop in purchase-loan volume, while the government-insured market fell 16.9%...

At press time, mortgage stocks were mixed (up or down slightly), with the exception of Fannie Mae and Freddie Mac. Both were up about 5%...

The culprit: a downturn in purchase-mortgage activity...