Loan originators have to look for a good fit when they're searching for a coissuance partner for their servicing rights, experts say. That may mean leaving some cash on the table in exchange for predictability and ease of transaction.
A handful of nonbanks with limited production capacity saw significant gains in their GSE servicing portfolios during the first quarter, including New Residential Investment, Matrix Financial Services and Pingora Loan Servicing. Overall, Fannie/Freddie MSRs grew $9.1 billion from December.
Fannie and Freddie securitized $52.5 billion of single-family mortgages with private MI coverage in 1Q19, a 21.6% sequential decline, according to a new tally from Inside Mortgage Finance...
Big gains in prime and expanded-credit MBS issuance are driving the market, although production of scratch-and-dent deals fell sharply in the first quarter.
The sharp downturn in purchase-money loans going into Fannie and Freddie MBS was accompanied by an even bigger drop in deliveries of loans with private mortgage insurance.
Production of new MBS and ABS fell in almost every category during the first quarter of 2019, but several markets showed rebounding volume in March, a new Inside MBS & ABS analysis shows. Preliminary estimates indicate that a total of $310.04 billion of MBS and ABS was issued in the first three months of 2019, a 10.3% decline from the previous three-month period. It marked the softest quarter in new issuance since the April-June cycle ... [Includes three data charts]
Ginnie Mae securitized $31.39 billion of FHA single-family purchase loans during the first quarter of 2019, according to a new Inside Mortgage Trends analysis of agency mortgage-backed securities disclosures. Although that represented an 18.4% drop from the previous quarter, the FHA share of agency purchase loans edged up to 30.8% in early 2019 as other insurance programs saw larger declines. Private mortgage insurance remained ... [Includes one data chart.]