Commercial banks and savings institutions reported significant declines in secondary market mortgage activity during the second quarter. Home loans held for sale on banks’ books also saw a severe drop. (Includes two data charts.)
Repurchase activity at banks and thrifts increased sharply during the second quarter. PNC Bank overtook JPMorgan Chase to lead the industry in buybacks. (Includes data chart.)
Depository institutions’ share of mortgage originations grew for the fifth straight quarter during the April-June cycle, but nonbanks still dominated the market. (Includes two data charts.)
Rising interest rates increased the fair value of banks’ MSRs in the second quarter but servicing for others was essentially flat. (Includes data chart.)