The vehicle-finance sector hit a pothole as new issuance skidded 26.0% from the first quarter to $21.61 billion. But that represented 62.9% of new ABS production for the second quarter.
Although ABS issuance backed by auto finance fell 26% from the first to the second quarter, the sector still accounted for nearly 57% of non-mortgage securitization in the first half of 2020. (Includes two data charts.)
Residential lenders originated $865 billion of mortgages in the second quarter, the highest level since 2003. While most shops reported robust increases, a number of top-tier banks and nonbanks failed to keep pace. (Includes two data charts.)
The call-report figures generally track buyback trends documented by Fannie and Freddie, though the bank figures may include repurchases and indemnifications linked to other buyers.
Hundreds of smaller GSE sellers retained more servicing in the second quarter than they usually do, setting the stage for increased bulk MSR trades when buyers get more confident. (Includes two data charts.)
Only 9.2% of refi loans sold to Fannie and Freddie in the second quarter had credit scores below 700, the lowest such concentration on record. (Includes two data charts.)
The Golden State still ranked tops in most primary mortgage insurance categories during the second quarter, but Texas gained in many products. (Includes data chart.)