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.
Bank of America increased its MBS portfolio by a whopping $93.5 billion during the fourth quarter. Big gains were also reported by Chase, Schwab and Truist. (Includes two data charts.)
Fannie and Freddie both grew their portfolios of whole loans targeted for the securitization process while reducing the amount of their own MBS holdings. (Includes data chart.)
Correspondent and wholesale-broker production made bigger gains from the third to the fourth quarter, but retail was the runaway winner in 2020. (Includes six data charts.)
Fannie inked just $5.26 billion in new credit-risk deals in 2020, and that total included a $425.6 million Connecticut Avenue Securities transaction...