Securitization of purchase loans rose 16.2% from July to August, including an 18.2% increase in VA loans. FHA still accounted for the biggest share of government-insured purchase loans, 53.0% last month.
TD Bank and Charles Schwab continued to dominate the sector, accounting for a combined 45.2% of industry ABS holdings despite pulling back somewhat during the pandemic-stricken second quarter.
Most of Freddie's repurchase activity in the second quarter involved loans securitized in 2020, but 2019 business still accounted for most of Fannie's activity. (Includes three data charts.)
The industry got no help from perennial leader Wells Fargo, but banks still posted their strongest quarterly income from mortgage banking in five years. (Includes data chart.)
TD Bank and Charles Schwab, the two biggest bank investors in ABS, both pulled back from the market in the second quarter, but industry-wide holdings rose slightly. (Includes two data charts.)
A number of top lenders shifted gears to focus on the high-margin GSE business in the second quarter while curtailing their non-agency jumbo production. (Includes three data charts.)