Time-based measures of delinquency rates showed slight declines during the fourth quarter of 2020, as did the foreclosure rate, according to Inside Mortgage Finance's large servicer delinquency index.
Roughly $249.81 billion of newly originated correspondent-generated home loans was securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the fourth quarter, up 20.3% from the prior period. This analysis covers 90.2% of the total agency market...
From a market perspective, all those forbearances are cumulative. Fannie Mae and Freddie Mae estimate that one in four of the borrowers who entered into forbearance continued to make their payments...
January agency MBS issuance ranked as the third largest monthly total on the record books. Production was almost exactly double the amount issued in January 2020, before the pandemic led indirectly to a massive refinance wave.
Its gain-on-sale margin came in at 305 basis points in 4Q20 compared to 110 bps in the year ago period. The nonbank also vowed to return “excess cash” to shareholders when possible, a reference to dividend payments.
The volume of FHA loans was down 4.2% for the year, including a 1.8% drop from the third to the fourth quarter. But at $1.114 trillion, FHA loans continued to represent the dominant slice of the Ginnie pie...
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