The supply of home-equity debt outstanding declined at an accelerated rate and new HEL lending fell sharply. Credit unions held their own. (Includes three data charts.)
The purchase-mortgage share of loans sold to Fannie, Freddie and Ginnie gained slightly in August, and there was some rebound in correspondent activity.
In a groundbreaking performance, the agency's five biggest months for MBS issuance have occurred over the past five months of 2020. Freedom continued to ride a swift current of refi activity. (Includes two data charts.)
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.