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.)

A handful of nonbanks drove significant growth in the second tier of mortgage servicers during 2Q21. (Includes two data charts.)

The number of Ginnie loans one-payment past due jumped 17.3% from March to June, pushing the delinquency rate for the category to 2.06%. That compared favorably to a 3.60% 30-day delinquency rate two years ago.

Freedom Mortgage and Lakeview Loan Servicing were the top players in acquiring Ginnie servicing rights in the MSR transfer market during the second quarter. (Includes four data charts.)

Non-agency CMBS production roared to $37.12 billion, the highest quarterly volume since the end of 2019.

Big increases in large-loan CMBS and single-asset/single-borrower transactions helped pump non-agency volume to $37 billion in the second quarter, the highest since the end of 2019. (Includes two data charts.)

The origination winners and losers were mostly determined by how much they rely on refinance activity.