The GSEs reported a modest decline in net interest income, which includes earnings from MBS guarantee fees. The surge in g-fee income from the adverse market fee implemented in December will be spread over the expected life of the loans. (Includes data chart.)
The fastest-growing segment of the servicing market included companies ranking sixth through 25th in total servicing. Nonbanks gained ground while depositories fell back. (Includes two data charts.
A diverse group of 21 commercial banks and savings institutions reported $3.75 billion of mortgage-banking income for 1Q21, a 1.7% improvement from the fourth quarter.
Of the total in COVID deferral status at the end of March, 91.56% of loans were current. Another 3.76% were one or two payments past due, and 4.69% were three or four payments late.
After spiking in the third and fourth quarters of 2020, GSE repurchases of delinquent loans from MBS pools fell sharply in early 2021. (Includes data chart.)
An increase in the refinance share of agency single-family business led to a decline in the correspondent channel's market share in the first quarter. (Includes two data charts.)
A group of 21 banks reported a combined $3.75 billion in mortgage banking income for the first quarter of 2021. While that was a modest 1.7% gain from the fourth quarter, it represented a huge 63.3% gain from the first three months of last year. (Includes data chart.)