The share of loans in the seriously delinquent category increased during the third quarter. Loan performance was worst among FHA mortgages. (Includes data chart.)
While the share of loans in forbearance continues to decline, the borrowers who remain in relief could be more difficult to help, according to industry analysts.
It’s been a quiet year for mortgage-related M&A. (Credit the pandemic and the resulting refi boom.) Meanwhile, some ponder what a normal origination year might look like.
There’s plenty of evidence that housing isn’t as healthy as it appears. The most important data point is probably the increase in the rate of serious mortgage delinquencies, which reached 4.4% in the second quarter, the highest level since 2014.
Refinance demand continued to fuel surging business in the agency market, although Ginnie dropped a little further behind Fannie and Freddie. (Includes two data charts.)
Not only are large nonbanks contemplating IPOs but smaller shops are as well. With mortgage banking considered a cyclical business, will it end badly or is it different this time around?
Nonbanks continued to account for over half of mortgage originations in a primary market that soared to $975 billion in the second quarter. (Includes data chart.)
If you thought the second quarter was a barn burner for loan production, just wait until you see the results for the third quarter. Across the board, executives are predicting stellar results.
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