PennyMac Financial was, hands-down, the top producer in the correspondent channel with $60.51 billion, a 24.2% increase from 2019.

“More than 11% of borrowers in forbearance have now exceeded the 12-month mark,” said Mike Fratantoni, MBA’s SVP and chief economist. “We anticipate that servicers will be busy over the next month"...

Fun fact: February has the fewest number of business days in the year and typically represents the low spot in seasonal housing activity. 

The record $114.44 billion total for Fannie, Freddie and Ginnie represented a 33.7% gain from the third quarter.

Over the past three quarters, several Ginnie issuer/servicers have turned a nice profit by purchasing delinquent FHA (and to a lesser degree VA) mortgages out of MBS pools, rehabilitating the notes and then repooling them.

PennyMac is hardly alone, but its disclosure reveals just how profitable the strategy can be...

Refinances accounted for 55.4% of Ginnie volume last month. Purchase-mortgage business was down 2.2% from December...

Claudia Merkle, CEO of National MI, said FHA and MI businesses operate on different points of the risk spectrum and, therefore, a cut in MIP will not result in massive ramifications for the MI industry.

The VA share of new primary MI business jumped from 25.2% in 2019 to 30.9% last year...

But first, some background: In 2015, NAMIC and the American Insurance Association successfully challenged the Department of Housing and Urban Development’s final rule on the use of disparate impact to prove allegations of unlawful discrimination with regards to homeowners’ insurance.