Freedom Mortgage ranked as the top FHA lender and the top VA lender at the nine-month mark, though the competition was catching up on the VA side. (Includes three data charts.)
The primary market looked a little more like normal in the third quarter, with correspondents and mortgage brokers regaining some ground. Traditional retail still accounted for an historically large share of production. (Includes six data charts.)
The top five bank investors in the ABS market all reported substantial declines in their holdings during the third quarter. One bright spot was investment in the surging consumer ABS market. (Includes two data charts.)
Fed by massive originations of agency-eligible mortgages, the securitization rate rose 5.1 percentage points to 80.4% in the third quarter of 2020. That's the highest it's been since 2013. (Includes data chart.)
The industry-wide servicing-for-others total was down $99.41 billion from June, a 3.0% quarterly decline. With a handful of exceptions, the banking sector has reported quarterly declines in SFO since the end of 2009.
Freddie continued to account for most GSE repurchase activity in the third quarter, but buybacks remained at historically low levels. (Includes three data charts.)
A lot of the decline in servicing-for-others held by banks was attributable to Wells Fargo and other big players in the market. A number of mid-sized banks grew SFO in 3Q20. (Includes two data charts.)
Federally insured depositories added a whopping $115.23 billion to their aggregate single-family MBS portfolio during 3Q20, according to Inside MBS & ABS...