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.)
Nonbank servicers increased their holdings of Fannie/Freddie MSR by $54 billion during the first quarter of 2020, with a big chunk of that coming as New Residential boarded Fannie rights it acquired from Ditech last year.
Roughly a third of the bulk MSR transfers recorded in the first quarter of 2020 came as NewRez boarded servicing rights it acquired from Ditech Financial several months ago. (Includes three data tables.)