Freedom Mortgage remained the top FHA lender at the midway point in 2020 as several of its competitors pulled back from the market. The nonbank extended its lead in the VA sector. (Includes three data charts.)
Banks and thrifts purchased a significant share of the net growth in agency MBS outstanding during the second quarter as Federal Reserve buying slowed. (Includes two data charts.)
Heavy refinance lending pushed the retail share of second-quarter originations to a record 65.7%. Much of the decline in correspondent came from a handful of key players. (Includes six data charts.)
In a nutshell, retail lenders gorged on refis: Roughly 62.8% of refi loans securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the second quarter came through the channel...
Retail-originated refi production was particularly strong at the GSEs, climbing 160.5% from the first to the second quarter. By contrast, deliveries of retail refi loans rose 30.5% at Ginnie Mae, where total MBS issuance increased more modestly...