Some of the largest home lenders reported fourth-quarter results this week and the writing is on the wall: Home lending in the final three months of the year may have eclipsed a very good third quarter.
The stock market boomed in 2019 and mortgage stocks followed right along. Mortgage insurance equities had nice gains but the top performers were Fannie Mae and Freddie Mac. (Includes data chart.)
Most subservicing vendors continued to see a growth in contracts during 3Q19, but a few specialists are heading for the exits: Ditech (via a bankruptcy sale) and RoundPoint, which is being bought by Freedom Mortgage. (Includes data chart.)
The agency one-family servicing market grew 1.8% during the third quarter, more than twice the increase in total single-family mortgage debt outstanding over the same period. (Includes two data charts.)
It was another strong quarter for warehouse financiers, with nonbanks slurping up more market share. If you're an IMB, credit is plentiful and then some. (Includes data chart.)
Analysts say homeowners are sitting on $6.2 trillion of home equity that could be converted to cash. But for many, refinancing is a better choice than a HELOC. (Includes three data charts.)
Delinquencies continued to decline in the third quarter, helped by a strong employment market and economic growth. However, there are some signs that late payments might inch upwards. (Includes data chart.)
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