Delinquent loans accounted for 7.37% of FHA mortgages in Ginnie MBS at the end of September, up from 6.98% at midyear. The total delinquency rate for VA loans rose from 3.52% to 3.73% over that period. (Includes four data charts.)
Most of the increased production in the third quarter came in agency multifamily MBS, and it remains to be seen whether new caps on Fannie and Freddie significantly reduce their footprint in the market. (Includes data chart.)
With strong refinance demand, low rates and solid housing sales for this time of year, 2019 could end up as the best year since 2006, when originations totaled $2.550 trillion.
First-lien mortgage lending hit $700 billion during the third quarter of 2019, the market's biggest output in a dozen years. VA loan guarantee volume hit a record level; private MI business may have as well.
The Freddie Mac single-family servicing market grew roughly three times as fast as the Fannie Mae market during the third quarter, according to a new Inside the GSEs analysis.
The fastest growing group of Fannie/Freddie servicers in the third quarter was small and mid-sized mortgage companies, but that's largely because NewRez is not a top-tier originator. (Includes two data charts.)
Falling interest rates and surging originations were poor conditions for bulk MSR sales in 3Q19, but coissuance activity was up sharply from the previous period. (Includes three data charts.)