Fannie and Freddie reported $83.8 billion of single-family loans in MBS pools under COVID payment-deferral plans. But 91.6% of COVID borrowers were current at the end of March. (Includes data chart.)
There were pockets of strength in the income-property securitization market, including financing on office properties, mixed-use projects and single-family rentals. But total CMBS issuance fell from the all-time record level set in the fourth quarter of 2020. (Includes data chart.)
First-lien mortgage originations climbed 3.2% from the fourth quarter, hitting an estimated $1.305 trillion in the first three months of 2021. Agency lending continued to dominate the market. (Includes two data charts.)
The top three home lenders in the first quarter: Quicken Loans, PennyMac Financial Services and Wells Fargo. UWM and Freedom Mortgage were a close fourth and fifth, respectively.
Ginnie Mae delinquency rates fell across the board during the first quarter of 2021, though still higher than a year ago. Solid growth in the VA market could not offset slumping FHA servicing. (Includes four data charts.)
Production of vehicle-finance and business ABS was up sharply in the first quarter. A transaction backed by future cash flows from an airline rewards program played a big part, while student loan and consumer ABS markets also posted big gains. (Includes two data charts.)
The seasonal housing market slowdown had a bigger impact on private MI business in the first quarter. New restrictions on Fannie/Freddie acquisitions of purchase loans with layered credit risk may hit the private MI sector the hardest. (Includes three data charts.)