Surging purchase-mortgage business helped boost market shares for the FHA and private mortgage insurers, but the biggest factor was a sharp decline in VA business. (Includes three data charts.)
The shift toward more purchase-mortgage business in the agency market appeared to help the correspondent channel the most at the expense of wholesale-broker. (Includes two data charts.)
Only two of 21 banks reported increased income from mortgage banking during the second quarter, both due to improvement on the servicing side of the business. (Includes data chart.)
The two GSEs securitized $98.14 billion of refi loans in July, the lowest monthly volume since March of last year, when the Federal Reserve sparked a massive refi market by pushing interest rates to record lows.
Refinance loans accounted for less than half of the collateral securitized in agency MBS in July for the first time in nearly two years. (Includes two data charts.)
Purchases of refinance loans since December 2020 generated roughly $6.6 billion in adverse market refi fees for Fannie and Freddie, boosting them to a seven-year high in net income in the second quarter. (Includes data chart.)