Ginnie MBS data show an increase of 72,224 loans recorded as 30 days past due from February to March. Some 56,266 of those newly delinquent loans were FHA-insured.
Only 11.22% of purchase-money mortgages purchased by the GSEs in the first quarter had FICO credit scores below 700. That was down from 12.05% in the fourth quarter and 14.66% a year ago.
A smaller share of Fannie/Freddie purchase loans fell in the highest-risk category during the first quarter of 2020, although there was an upswing in higher-risk refinance loans. (Includes two data charts.)
Nonbank market share declined slightly in the first quarter largely because depository institutions were selling older loans to Fannie and Freddie. Refi business ramped up in March. (Includes two data charts.)
Analysts at Bank of America Securities predict just $3.4 billion of prime jumbo and non-QM MBS will be issued for the rest of 2020. Non-agency MBS issuance came to a near standstill in March. (Includes three data charts.)
Don’t look now, but the agency MBS market started the year on a pace to rival the all-time record set back in 2003. It probably won’t last. (Includes two data charts.)
Among the top five agency MBS issuers in the first quarter, three were nonbanks: Quicken, PennyMac and UWM, according to exclusive figures from Inside Mortgage Finance...