California accounted for most of the overall market decline in agency business during the second quarter, although FHA lending was up in the state. (Includes data chart.)
The non-agency MBS market had its best quarter since COVID, including a huge increase in June issuance of prime-jumbo and ECM deals. The agency market, however, was in retreat. (Includes three data charts.)
Lenders with heavy concentrations of refi loans, like Quicken and Freedom Mortgage, recorded big declines in agency business during the second quarter of 2021. (Includes two data charts.)
Freedom Mortgage upped its FHA/VA production thanks to big gains in retail and correspondent activity, and even claimed the top spot in broker despite a 14% downturn. (Includes data chart.)
Delinquency rates remain at low levels for multifamily mortgages in Ginnie MBS, though modified loans accounted for 18% the outstanding market. (Includes data chart.)
Wells Fargo and JPMorgan Chase, the largest bank mortgage lenders, reported significant increases in the first quarter. But PlainsCapital Bank and Federal Savings Bank both posted double-digit declines.