A 4% monthly increase in Ginnie Mae refinance volume largely benefited the VA market, which accounted for 57% of Ginnie MBS issuance in January. (Includes two data charts.)
Industry-wide REIT MBS holdings expanded just 0.6% during the fourth quarter, a sharp slowdown from the growth rates in the prior two quarters. (Includes data chart.)
Banks reported substantial gains in their holdings of consumer ABS and deals backed by vehicle loans, along with steep drops in credit card and commercial securitizations. (Includes two data charts.)
The VA home loan program surged past the FHA in new business in 2020. Thanks to its rapid-refi option, the VA also took market share away from private MIs. (Includes three data charts.)
Repurchases were up in the fourth quarter of 2020, with Freddie still representing a disproportionate share of the action. Most claims are resolved without a buyback. (Includes three data charts.)
Banks reported $22.5 billion in mortgage banking income in 2020, according to call reports. Long-time industry leader Wells Fargo had a rough ride. (Includes data chart.)
Bank of America, the largest MBS investor in the banking industry, added $108.26 billion of GSE pass-throughs to its portfolio during the fourth quarter.