Foreign investors, mutual funds and pension accounts all gave way to the massive $550 billion increase in the Federal Reserve's MBS holdings. But depository institution portfolios managed to keep growing. (Includes three data charts.)
Nonbanks continued to account for a bigger share of the loans produced by the top 100 lenders. But the market has become less consolidated, with smaller firms taking a bigger share. (Includes two data charts.)
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.)