Delinquencies in the 30-60-day bucket are increasing in line with trends in unemployment. Foreclosures remain limited though there are concerns about borrowers with low levels of built-up equity. (Includes data table.)
The GSEs saw an uptick in uninsured mortgage business from the second to the third quarter, while FHA purchase and refi volume surged. (Includes three data tables.)
The business of subservicing loans for others continued apace in the second quarter with modest growth. The good news: Delinquencies are low but some lenders that source the loans are going bust. (Includes data chart.)
When it comes to net revenue, MBA had a strong showing in fiscal 2022. But the trade group remains worried about what industry consolidation might do to its numbers going forward.
The severe correction in residential originations is causing turmoil. Not only are nonbanks closing their doors or consolidating, but so too are the warehouse funders that lend them cash. (Includes data chart.)
Early-stage delinquencies increased at large servicers during the second quarter of 2023. Servicers anticipate further declines in loan performance. (Includes data chart.)
In the purchase loans securitized by the agencies in the second quarter, the biggest gain was in GSE loans with no primary MI coverage. (Includes three data charts.)
The agency single-family servicing market grew more rapidly in the second quarter of 2023, with nonbanks racking up most of the gains. Ginnie remained the fastest-growing sector.
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