A market-wide slump in MBS fair market values accounted for most of the decline in reported bank holdings of these securities during the third quarter. And there was a significant increase in MBS held in bank trading accounts. (Includes two data charts.)
Capital markets deals to finance MSR have slowed down, but servicers still have access to funding through bilateral loans from banks and excess-spread transactions.
Originations of purchase mortgages with primary MI coverage declined in the third quarter, but the FHA stood alone with a sturdy 7% increase in purchase endorsements. National MI was the only private insurer to boost quarterly production. (Includes three data charts.)
2022 smashed records for MSR transfers, especially in the bulk market, but cooled in recent months. Still, experts see a rebound when the market gets a better handle on the Fed's future steps.
Lenders cut back on jumbo originations in the third quarter, and they kept most of what they produced. The result: a 73% nosedive in prime RMBS issuance from the second quarter. (Includes three data charts.)
Credit Suisse has a tentative deal to turn over its Securitized Products Group to an investor group led by Apollo Global Management. The deal could include Select Portfolio Services, one of the top nonprime servicers in the industry. (Includes data chart.)