The landslide of new single-family MBS issuance since the pandemic started is yielding a predictable side effect: rising buyback demands from the GSEs. (Includes two data charts.)
The FHA received some help from reperforming loans that had COVID payment forbearance, but the VA has also seen a sharp decline in refinance business. (Includes two data charts.)
Several top REITs hunkered down in the choppy agency MBS market during the second quarter, while others continued pushing into MSRs and the non-agency mortgage sector. (Includes data chart.)
Most of the modest gain in bank ABS investment came from a handful of large banks buying deals backed by unsecured consumer loans, a fast-growing market. (Includes two data charts.)
The shift toward purchase-money loans helped third-party originators overall, but correspondent production lost out on the growth of non-agency lending in the second quarter. (Includes six data charts.)