The conventional-conforming sector still dominated first-lien originations, accounting for 73% of the market in early 2021. But jumbo posted the biggest gain from the fourth quarter. (Includes two data charts.)
Refinance and restructuring of previously issued deals accounted for 62.8% of first-quarter CLO and CDO issuance. A total of $47.94 billion of such deals hit the market...
Freddie posted a huge 20% increase in single-family MBS issuance last month, fueled by big gains at its cash window. Fannie volume was up a more subdued 3% from March. (Includes two data charts.)
Most publicly traded nonbanks saw declines in origination gain-on-sale margins in the first quarter as the market evolved toward normalcy. Several companies offset declining production income with better performance on servicing. (Includes data chart.)
Nearly two-thirds of the CLO and CDO issuance in the first quarter of 2021 came from restructuring and refinancing of earlier transactions. For new production, broadly syndicated loans were the biggest source of collateral. (Includes two data charts.)
Freddie had one of its busiest quarters ever in issuance of new STACR credit-risk transfer securities in the first quarter of 2021. Fannie remained out of the market. (Includes data chart.)
A greater concentration of refinances in the primary market led to a sharp drop in the private MI share of new primary insurance business. And the FHA actually posted a bigger gain in refi endorsements than the VA. (Includes three data charts.)