Among a group of 30 prominent servicers of jumbo mortgages, only three shrank their portfolios in the past year. Wells Fargo remained the top-ranked servicer as of September 30, though the bank lost some market share. (Includes data chart.)
The amount of outstanding subprime mortgages handled by a group of prominent servicers fell by 4.1% in 3Q19. Among the 15 processors, none increased their portfolios on a sequential basis. (Includes data chart.)
The parent company of United Wholesale Mortgage was the top originator of mortgages in prime non-agency MBS issued in the third quarter. Underwriting standards haven’t changed much in the past year. (Includes two data charts.)
The dollar volume of conforming jumbo mortgages included in GSE MBS increased sharply in the third quarter. Other noncore GSE business also expanded. (Includes data chart.)
Originations of higher-priced non-government mortgages increased by 11% in 2018. The loans can’t receive safe harbor QM status and many higher-priced mortgages are required to include escrow accounts. (Includes two data charts.)
Denial rates on jumbo mortgages varied in 2018. Denials of applications for purchase mortgages declined while those for refis increased. Denial rates also differed widely among banks and nonbanks. (Includes one data chart.)
Production of interest-only mortgages by a select group of lenders increased by more than 65% in the second quarter. Data from HMDA provides new insight on the characteristics of IO borrowers. (Includes data chart.)
Servicing portfolios stocked with jumbo mortgages continued to steadily increase in the second quarter. However, portfolio growth at the top two servicers hasn’t kept pace with the market overall.
Servicing portfolios at most of the major subprime servicers are shrinking, except at Citadel Servicing. The firm has more than doubled its servicing portfolio in the past year.
Among the top five states for originations of non-agency jumbos in 2018, production increased only in Florida on an annual basis. California remains the top state for jumbo lending.
RSS