It’s no surprise that Ginnie, and nonbank servicers, saw the biggest gains in the agency MSR market in the third quarter. Freedom Mortgage made noise growing its portfolio by nearly 20%. (Includes two data tables.)
Nonbanks are making money once again, which could pave the way for new nonbank IPOs. Also, some of the IPO class of 2020/2021 are trading above their out-of-the-gate prices.
The future looks somewhat positive for loan brokers, but not so for mortgage bankers. Not surprising given production trends, but a Fed rate cut in the fall could change the hiring equation.
Banks reduced their non-agency jumbo lending in the early months of 2024, with nonbanks picking up some of the slack. Deliveries of high-balance mortgages into agency MBS also declined in the first quarter. (Includes three data tables.)
Delinquency rates declined during the first three months of 2024, according to the Inside Mortgage Finance Large Servicer Delinquency Index. (Includes data tables.)
What’s a mortgage CEO worth in a dicey origination market? According to an early read of proxy filings, some chief executives received nice pay packages last year, while others saw reductions.
Refinance volume was up across the board in first-quarter agency business, but the sharp spike in VA activity caught the most attention. (Includes three data tables.)
United Wholesale Mortgage was the largest lender in 2023. Only 19 of the top 100 lenders increased their production during the year. (Includes data table.)
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