The titans of the industry – the four banks with over $1 trillion in total assets – shrank their mortgage portfolios by a combined 0.5 percent over that period.
ABS issuance has climbed steadily since bottoming out in 2010, and this year is on track to exceed $200 billion in annual issuance for the first time in eight years.
Meanwhile, the U.S. House of Representatives approved a modified bill that would require federal banking regulators to study the role of depository institutions in the MSR market.
The rise in retail market share likely reflects the fact that smaller lenders, which are more likely to do retail lending exclusively, account for a growing share of GSE business.
Wells Fargo was the top seller to Freddie Mac in 2Q with $12.6 billion, according to newly compiled figures from Inside Mortgage Finance, but BofA was a somewhat close second...