The conforming-jumbo business was booming in the third quarter, especially at Fannie and the VA. Meanwhile, the FHFA likely will boost the conforming loan limit to over $500,000 for 2020. (Includes three data charts.)
Along with the increase to the baseline limit, caps on Fannie Mae, Freddie Mac and government-insured loans in high-cost areas would also rise, to as much as $760,000…
Correspondent production is still the leading source of government-insured loans, according to an exclusive survey, but retail gained ground in the third quarter. Wholesale-broker volume was up, but its market share contracted.
Freddie upped its share of GSE single-family MBS issuance with a 7.5% increase from September, while Fannie’s monthly volume slid 3.0% last month. (Includes two data charts.)
Correspondent production took a bigger share of the fast-growing conventional-conforming space, while retail expanded in government lending. Wholesale-broker jumbo lending declined in the third quarter. (Includes two data charts.)
Seven publicly held nonbanks reported a combined $398 million in income from mortgage banking operations in the third quarter, ending a nine-month streak of aggregate losses. Mr. Cooper emerged on top. (Includes data chart.)
Only four REITs upped their agency MBS holdings in the third quarter, including New Residential Investment Corp., New York, also a large holder of mortgage servicing rights…
Increased interest volatility and widening spreads challenged REIT MBS investors in the third quarter as both agency and non-agency holdings declined. (Includes data chart.)