Auto-loan securitization remained the biggest ABS sector, but business-finance deals recorded the biggest third-quarter increase. Delta’s air-mile deal set the pace. (Includes two data charts.)
The year 2020 is on the edge of greatness as third-quarter mortgage originations climbed to $1.14 trillion, just shy of the all-time record set 17 years ago. (Includes two data charts.)
In 3Q20, Quicken Loans was the origination king at roughly $84 billion, followed by Wells Fargo ($62 billion) and United Wholesale Mortgage ($54 billion).
It was the highest three-month production reading in the program’s history, continuing a run in which the past five quarters represented the five highest Ginnie totals ever.
Nonbanks continued to broaden their footprint in the Ginnie market even though top players like Quicken, United Shore, Mr. Cooper and AmeriHome recorded declining sales in the third quarter. (Includes four data charts.)
Prime jumbo MBS production posted the biggest increase of any sector, rising 177% from the second quarter, while ECM securitization was up 14% in the third quarter. (Includes three data charts.)
The rapid growth in Freddie servicing during the third quarter stood in marked contrast to an unusual decline in the Ginnie market. Loan performance continued to improve. (Includes three data charts.)
While the supply of VA loans in Ginnie MBS continued to grow during the third quarter, the volume of securitized FHA forward mortgages fell 2.7% from the end of June.