Some of the top aggregators of government-insured correspondent loans pulled back from the market in the second quarter. Retail production grew to 56.5% of FHA/VA lending. (Includes data chart.)
In 1Q20, REITs – slammed by margin calls – shed $120.21 billion of securitized product from their portfolios. At the midway point in 2020, the industry’s MBS holdings remained far below the fourth quarter.
While most of the larger mortgage REITs began growing portfolios that were ravaged by market turmoil at the end of March, many smaller firms continued to shrink. (Includes data chart.)
Several top lenders reported declines in purchase-mortgage lending and increased refi activity in the second quarter. Agency MBS data suggest a modest recovery in July and August. (Includes four data charts.)
The 14 lender/servicers reported $4.02 billion in income from those activities during the second quarter, up from $1.40 billion in the first three months of 2020.
MSR values sank over 34% during the first seven months of 2020, according to a July update from Mike Carnes, managing director of MSR valuations at MIAC Analytics.
Fannie Mae and Freddie Mac issued a record $249 billion of single-family MBS in August while continuing to grow their share of the mortgage market. (Includes two data charts.)