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John Bancroft

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MSR Transfer Market Off to Puzzling Start in Early 2021

April 16, 2021

Bulk transfers of Fannie and Freddie servicing rights increased significantly from the fourth quarter, but the Ginnie market was dead. New bulk buyers topped the ranking. (Includes three data charts.)

Agency Delinquency Rates Decline Sharply in 1Q21

April 16, 2021

John Bancroft

Fannie Mae, Freddie Mac and Ginnie Mae reported sharp declines in all delinquency categories during the first quarter of 2021, when loan performance typically improves. (Includes data chart.)

A Nice Comeback for Non-Agency MBS Issuance in 1Q21

April 16, 2021

John Bancroft

JPMorgan Chase was the top issuer of prime non-agency MBS with $4.08 billion in first-quarter issuance...

Prime Jumbo Drives 1Q21 Non-Agency MBS Rebound

April 15, 2021

John Bancroft

Securitization of non-agency prime and Alt A mortgages ramped up significantly in the first quarter, although subprime MBS issuance dropped to its lowest level since 2017. RPL/NPL transactions remained the biggest component in the non-agency MBS market. (Includes three data charts.)

GNMA Withdrawals Up in 1Q21, Gain Speed in March

April 15, 2021

John Bancroft

Most of the increase in Ginnie loan removals came from borrower payoffs, but servicer buyouts for loss mitigation and foreclosure rose sharply. (Includes data chart.)

Uneven Growth in Agency MSR Market for 1Q21

April 15, 2021

John Bancroft

Nonbanks continued to amass agency servicing market share in early 2021 as many depository institutions allowed their portfolios to shrink.

Lopsided Growth in Agency Servicing Market in 1Q21

April 15, 2021

John Bancroft

Freddie saw a huge gain in single-family servicing in early 2021, especially among nonbank servicers, while slumping FHA production led to a decline in Ginnie servicing. (Includes two data charts.)

In 1Q21, A Record $92.3 Billion for VA Refis

April 12, 2021

John Bancroft

Old-fashioned rate-term transactions still accounted for most of the VA refi market, at 89.1% in the first quarter...

Refinance Pushes VA Ahead in 1Q21 Government Market

April 9, 2021

John Bancroft

Freedom Mortgage remained the top Ginnie MBS issuer in the first quarter, though third-ranked Quicken Loans posted a mighty 47% gain from the prior period. Some 57% of loans securitized by Ginnie had VA guarantees. (Includes four data charts.)