Non-mortgage ABS issuance increased by a robust 31% from the fourth quarter of 2018 to the first three months of this year. Big gains were recorded in vehicle-finance transactions, credit card ABS, student loan securitization and business-finance deals.
A handful of top lenders posted significant gains in production volume in the first quarter of 2019 compared with the previous period. But many more shops saw double-digit declines in first-lien mortgage lending.
Nonbank servicers are increasingly moving toward a capital-light strategy, suggesting steady demand for MSR and servicing-advance financing. The investor base for such deals is strong and growing.
Agency MSR sales fell sharply from the fourth quarter of 2018 to the first three months of this year, according to an exclusive Inside Mortgage Trends analysis. Much of the downturn resulted from a return to more normal levels of Ginnie bulk deals.
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...