The regulator released additional data collected from the survey of 5% of new mortgage borrowers each quarter. The data covers originations through the third quarter of 2020.
Most of the big banks -- even Bank of America -- reported hefty gains in mortgage banking income during the first quarter that appear largely driven by net servicing fees. (Includes data chart.)
Although seller buybacks from Fannie/Freddie MBS trusts rose sharply in the first quarter, they still account for a miniscule share of total GSE business.
While correspondent sales volume increased on an annual basis in 2020, two of the top five sellers posted diminished sales. Guaranteed Rate and loanDepot are less reliant on correspondent sales than the other top sellers. (Includes data chart.)
A group of 21 banks reported a combined $3.75 billion in mortgage banking income for the first quarter of 2021. While that was a modest 1.7% gain from the fourth quarter, it represented a huge 63.3% gain from the first three months of last year. (Includes data chart.)
Fannie Mae, Freddie Mac and Ginnie Mae reported sharp declines in all delinquency categories during the first quarter of 2021, when loan performance typically improves. (Includes data chart.)
There are signs that the “adverse market refinance fee” is pushing some business away from Fannie and Freddie toward government mortgage insurance programs. (Includes two data charts.)