Both FHA and VA saw sharp declines in purchase-money endorsements in the first quarter, and the FHA actually posted a bigger gain in refinance business. (Includes three data charts.)
Banks increased their holdings of Fannie/Freddie pass-throughs by $176 billion in the first quarter, while shrinking their Ginnie MBS holdings. Bank of America boosted its Fannie/Freddie portfolio by $85 billion. (Includes two data charts.)
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.)