A New Reality for GSE Loans: Better FICOs, Lower LTVS January 9, 2023 Andras Malatinszky Notable: Roughly 9.9% of all purchase loans were in the under-60% LTV range, a 289-bps increase since the first quarter.Read More
New Securitization Sputters in Final Quarter of 2022 January 6, 2023 John Bancroft Another way to view it: 2022 was the seventh-highest annual output ever...Read More
The YOY Mortgage Job Loss Tally: 41,700, With More to Come… January 6, 2023 Paul Muolo At the end of November, firms classified by the federal government as “real estate credit” had 250,200 full-timers on their payrolls.Read More
Agency Market Staggers in December, Ginnie the Largest Issuer in 4Q at 38% January 5, 2023 John Bancroft In the fourth quarter, Ginnie was the largest issuer of agency MBS with a 38.1% share...Read More
Short Takes: loanDepot Tweaks Its Borrowing Facilities / SOFR In, LIBOR Out / Stock Vesting (and Holding) / Another ‘Raiding’ Lawsuit January 5, 2023 Paul Muolo and Dennis Hollier Mortgage insiders have been selling shares in their companies for well over a year now...Read More
As Lending Volumes Swoon, the Top Guns Gain Market Share January 4, 2023 John Bancroft The five largest producers raised their share to 29.5% in the third quarter, up from 28.9% in 2Q22...Read More
When in Doubt, Hold 'Em (First-Liens) December 30, 2022 Namrata Bhatia Wells Fargo, the bank with the largest first-lien portfolio, is still under growth constraints placed on it by the Fed...Read More
Headed Lower: MBS Trading Volumes... December 30, 2022 Paul Muolo In November, just $81.9 billion of MBS backed by single-family loans was issued by Fannie Mae, Freddie Mac and Ginnie Mae.Read More
Short Takes: It’s Over, Finally (2022) / By the Numbers / Once the Rightsizing Is Over… / $1.3 Trillion / Rising Inventory / A Day Off December 30, 2022 Paul Muolo There’s an argument to be made that once the tough job of right-sizing is over, profit margins will once again normalize...Read More
Jumbo Originations Were Not Spared in 3Q, All Channels Suffered December 29, 2022 Namrata Bhatia Jumbo lending through brokers plunged 52.0%...Read More
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