Banks continued to retreat from the business of servicing home loans for other investors as nonbanks increased their MBS servicing by 6.6% in the third quarter. (Includes two data charts.)
Call-report data analyzed by Inside Mortgage Finance show that banks, thrifts and credit unions housed $371.4 billion of HELOCs on their balance sheets, down 3.1% from the second quarter.
Freedom Mortgage and PennyMac remained the top Ginnie MBS issuers in November, though their monthly production was down slightly. Quicken and Lakeview gained ground. (Includes two data charts.)
The top two REIT MBS investors shifted their portfolios during the third quarter without adding significantly to them, while other REITs grew their holdings aggressively. (Includes data chart.)
Issuance of rated non-agency MBS and ABS rose significantly during the third quarter, although both markets continued to lag behind 2019 on year-to-date volume. (Includes two data charts.)
While several top jumbo lenders reported declining primary-market production in the third quarter, most sellers of agency-conforming jumbo loans saw hefty gains. (Includes three data charts.)
The FHA/VA market was more subdued, with total conforming-jumbo loans pooled in Ginnie MBS rising 16.7%. The VA program accounted for 83.0% of government-insured jumbo volume, with quarterly securitization up 17.7%.