The correspondent production channel boosted its share of loans delivered into agency MBS during the fourth quarter, but not enough to regain its former glory. (Includes two data charts.)
Most publicly held banks reported substantial declines in mortgage banking income in the fourth quarter. But earnings for the full year were stellar, up about 78% from 2019. (Includes data chart.)
January agency MBS issuance ranked as the third largest monthly total on the record books. Production was almost exactly double the amount issued in January 2020, before the pandemic led indirectly to a massive refinance wave.
There was still gas in the tank in January as agency MBS issuance rose slightly from the previous month. Fannie saw the biggest gain, while Freddie business fell. (Includes two data charts.)
Among the top 50 players in mortgage servicing, nonbanks saw their portfolios grow 5.7% from the third to the fourth quarter. Depositories posted a 2.9% decline. (Includes two data charts.)
The volume of FHA loans was down 4.2% for the year, including a 1.8% drop from the third to the fourth quarter. But at $1.114 trillion, FHA loans continued to represent the dominant slice of the Ginnie pie...
Agency multifamily MBS programs accounted for 72.2% of total commercial mortgage securitization in 2020, their most dominant share since the immediate aftermath of the financial crisis.
Ginnie Mae MBS at the end of 2020 included $773.5 billion of VA loans, a 9.5% increase from the previous year, while the FHA sector posted a 4.2% decline over that period. (Includes four data charts.)