Rate-term refinances drove the modest increase in agency MBS issuance in November, especially at Fannie and Freddie. Ginnie production was down. (Includes two data charts.)
The 47.3% share for refinance business was the highest since the fourth quarter of 2016. Retail remained the largest source of both purchase and refi business, but correspondent platforms saw the biggest improvement from the second quarter. (Includes four data charts.)
Inside Mortgage Finance found that lenders originated an estimated $369.0 billion of purchase mortgages in 3Q19, accounting for 52.7% of total first-lien production…
Table-funding increased by 16.7% from the second quarter, hitting an estimated $98 billion in the most recent period. That’s a healthy increase and represented the strongest quarter for broker production since early 2008…
About 87% of buyback activity in the third quarter was related to loans sold to Fannie and Freddie in 2018 and the first half of 2019. (Includes data chart.)
Freddie repurchase activity continued to be disproportionately high in the third quarter, though GSE buybacks and the pipeline of unresolved cases fell slightly. (Includes two data charts.)
JPMorgan Chase and Wells Fargo, which account for over 40% of the industry mortgage banking income, reported sharply different results in their third quarter call reports. (Includes data chart.)