Big gains by Mr. Cooper and NewRez boosted the combined portfolio of the top five servicers, offsetting further declines at Wells Fargo, Chase and Bank of America. (Includes two data charts.)
Lakeview booked $7.85 billion in bulk Ginnie MSR transfers during the fourth quarter. The biggest chunk, $3.40 billion, came from United Shore Financial Services, the parent of United Wholesale Mortgage, the nation’s fifth largest home lender.
Lakeview Loan Servicing capped a years-long ascent up the ranking of Ginnie Mae servicers thanks largely to bulk MSR purchases and acquisitions through co-issuance arrangements. (Includes four data charts.)
While Fannie, Freddie and Ginnie continued to dominate the business of securitizing income-property mortgages, issuance of non-agency CMBS gained ground in 2019 thanks to significant increases in office, industrial and multifamily transactions.
Lenders generated a hefty $2.375 trillion of first-lien home loans last year, the strongest the market’s been since 2006. Volume was up 8% from the third to the fourth quarter, but not all lenders took advantage of the refi wave. (Includes two data charts.)