Most of the phenomenal increase in agency MBS issuance last month came from the refinance sector, though purchase volume rose smartly as well. Nonbanks led the way.
GSE and government-insured loans accounted for 86.1% of the market in early 2020, a period that featured a historic nosedive in mortgage interest rates and frenetic volatility caused by the pandemic...
Fannie Mae, Freddie Mac and Ginnie Mae pumped out a record $236.8 billion of single-family MBS in April. The previous record was $232.1 billion, set in June 2009.
A growing share of VA and FHA loans had credit scores of 740 or higher in the first quarter, while the share of scores below 620 declined. (Includes four data charts.)
The first three months of 2020 saw a record $6.8 billion of credit-risk transfer bonds issued by the government-sponsored enterprises. Rating services have begun reviewing the impact of the coronavirus on both older and new CRT deals. (Includes data chart.)
Social distancing is having a huge impact on the corporate ratings that underlie CLO collateral, and analysts expect most of the damage to fall on speculative-grade tranches. (Includes data chart.)
While the top two servicers reported a $50.6 billion decline in their combined portfolio during the first quarter, a handful of nonbanks saw significant growth from the end of 2019. (Includes two data charts.)