Strong increases in loan sales by Wells Fargo, JPMorgan Chase, Truist and Citizens Bank helped boost the banking industry's share of new GSE business in the second quarter. (Includes two data charts.)
While Fannie and Freddie refi business fell sharply in the second quarter, there were significant increases in loans with low credit scores. Meanwhile, the fastest growing sectors of the GSE purchase market had higher LTV ratios. (Includes two data charts.)
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.)