Servicing of jumbo mortgages increased at most of the 30 top firms in the sector during the third quarter. However, top-ranked Wells Fargo bucked the trend. (Includes data chart.)
Shellpoint was named as servicer on $7.31 billion of non-agency MBS issued during the third quarter. Cenlar, a major subservicer in the sector, is under a consent order with the OCC. (Includes data chart.)
GSE investment-property business fell by nearly 50% between the second quarter and the third quarter. Second-home activity was also off, though by a smaller amount. Much of that volume went into the non-agency market, though that could change. (Includes one data chart.)
A rise in interest rates near the end of March helped lift ARM originations in the second quarter. Still, the product’s market share remained well below pre-pandemic levels. (Includes data chart.)
Among a group of 15 servicers tracked by this publication, nonprime servicing balances were essentially unchanged between March and June. At the servicer level, there were some fluctuations. (Includes data chart.)
An increase in jumbo originations helped to grow servicing portfolios at many shops during the second quarter. Top-ranked Wells Fargo, however, saw its jumbo servicing portfolio decline. (Includes data chart.)
The three servicers added significant volume to their portfolios thanks to the surge in non-agency MBS issuance during the second quarter of 2021. The performance of securitized loans also continues to improve. (Includes data chart.)
Nearly 70% of the non-QMs originated in 2020 included an IO term, according to a new INM analysis. The top two lenders were banks. (Includes data chart.)
Originations of adjustable-rate mortgages declined by 15% on a sequential basis in the first quarter of 2021. The ARM share of total originations also fell below 5%. (Includes data chart.)
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