VA deliveries into Ginnie MBS increased a stunning 44.5% in 2019. The share of refis in total VA securitization saw a sharp increase too. (Includes data chart.)
Refinance business held up better than the purchase market in February, and a handful of issuers actually increased their Ginnie MBS activity. (Includes two data charts.)
Home Equity Conversion Mortgage endorsements dropped last year despite a strong fourth quarter. American Advisors Group retained its top position among HECM lenders. (Includes two data charts.)
VA originations set a new record in the fourth quarter despite a slump in purchase lending. Nonetheless, purchase mortgages accounted for a large share of total VA business in 2019.
Borrower demand for FHA-insured loans was strong in the third quarter due to low interest rates. Not surprisingly, refinance activity, streamline refinancing in particular, provided the boost.
USDA lenders ramped up production in the third quarter of 2019 with a strong boost from purchase originations. More than 50% of total USDA originations were from correspondents. USDA servicing volume was up slightly from a year ago.
Reverse mortgage lenders saw modest growth in the second quarter with a mere 3.0% increase in HECM originations. The trend in the sector remains weak, with production at the mid-year mark down 33.7% from a year ago.
The volume of broker-originated FHA and VA refinance loans pooled in new Ginnie MBS jumped 94.1% from the first to the second quarter. Correspondent production saw the smallest gains among the three channels.
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