Veterans United Home Loans saw a sharp decline in correspondent sales of government-backed loans in 2024, while volume at Guild Mortgage and Rate surged. (Includes data table.)
The recent tightening of FHA loss-mitigation options will likely lead to more early loan buyouts, which PennyMac CEO David Spector sees, at the very least, as a net neutral development for the business.
The Ginnie Mae market continued to retreat in February. Most securitizers lost volume and PennyMac retained its top spot despite a 29.4% decline in issuance volume. (Includes two data tables.)
Some $202.78 billion of loans were removed from Ginnie Mae MBS last year, with about 88% of them representing borrower payoffs. (Includes two data tables.)
Endorsement activity involving traditional HECMs declined slightly and production of HECMs for home purchase increased during the third quarter. Mutual of Omaha remained the top HECM lender. (Includes three data tables.)
Among a large group of FHA/VA lenders, the broker channel accounted for 24.8% of government-insured originations in the third quarter. UWM and PennyMac sharply increased their broker volume in the quarter. (Includes data table.)
Correspondent sales of government-insured mortgages originated during 2023 declined somewhat on an annual basis, but Veterans United upped its sales by 7.3%. (Includes data table.)
Total issuance of Ginnie Mae mortgage-backed securities declined slightly during the first quarter of this year. Still, volume was up sharply from the first three months of 2023. (Includes four data tables.)
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