Although 30-day delinquencies were up, Fannie, Freddie and Ginnie all saw significant declines in the number of loans two- and three-payments past due. (Includes data chart.)
Jumbo mortgage originations were up in 2020 but most production remained on the lenders' books. Direct sales of conventional loans to non-agency securitizers also fell. (Includes data chart.)
REIT industry holdings of agency MBS have climbed 8% higher than they were when COVID forced many firms to shrink, but investment in non-agency MBS remains depressed. (Includes data chart.)
Freddie had one of its busiest quarters ever in issuance of new STACR credit-risk transfer securities in the first quarter of 2021. Fannie remained out of the market. (Includes data chart.)
Mortgage banking firms have been emulating some of their customers by taking advantage of rock-bottom rates to borrow as much as they can. Should anyone be worried?
The GSEs reported a modest decline in net interest income, which includes earnings from MBS guarantee fees. The surge in g-fee income from the adverse market fee implemented in December will be spread over the expected life of the loans. (Includes data chart.)
Most of the increase in Ginnie loan removals came from borrower payoffs, but servicer buyouts for loss mitigation and foreclosure rose sharply. (Includes data chart.)
Top life insurance companies increased their ABS holdings substantially in 2020 and commercial MBS investment was up as well. But residential MBS portfolios declined. (Includes data chart.)
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