With one big exception — Freedom Mortgage — correspondent platforms saw declining production of FHA/VA loans in the first quarter. Retail was fairly steady, while wholesale-broker gained momentum. (Includes data chart.)
Bank and thrift holdings of first liens increased just 0.3% in the first quarter. While BofA’s portfolio increased, Wells and Chase cut theirs. (Includes data chart.)
S&P, Moody’s and DBRS made the most of the surge in rated ABS issuance during the first quarter. Kroll and Moody’s managed to increase non-agency MBS ratings in a declining market. (Includes two data charts.)
Nonbanks accounted for a record 63% of production by the top 100 lenders in the first quarter. Meanwhile, industry economists project a sharp drop in volume in the third quarter. (Includes two data charts.)
Hefty MSR hedging losses crushed profits on mortgage servicing in the first quarter, but mortgage bankers ended the period in better financial shape than they started it. (Includes data chart.)
The share of current production loans that sellers have to buy back from GSE securities pools remained miniscule, although volume was up in the first quarter. (Includes data chart.)
Ginnie MBS issuance caught up with strong primary market originations of FHA and VA loans, while Fannie and Freddie held steady in the conventional-conforming sector. (Includes data chart.)
The supply of home-equity debt outstanding fell below $500 billion in the first quarter. And though new originations were up slightly, lenders took a step back in April. (Includes three data charts.)
Ginnie MBS issuance in May was off just a whisker from April’s record, but the full impact of the recession on housing sales is yet to come. (Includes two data charts.)
The retail channel lost market share in the jumbo sector during the first quarter of 2020. However, retail remains the predominant source of originations for the product. (Includes data chart.)
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