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John Bancroft

@jbancroftimf

Articles

ARTICLES

Agency MI Market Contracts as Purchase Lending Slows

April 22, 2021

The seasonal housing market slowdown had a bigger impact on private MI business in the first quarter. New restrictions on Fannie/Freddie acquisitions of purchase loans with layered credit risk may hit the private MI sector the hardest. (Includes three data charts.)

Agency MI Market Retrenches in 1Q but Remains Robust Overall

April 22, 2021

John Bancroft

Sales of purchase loans with private MI coverage fell 21.7%, while Ginnie recorded somewhat more modest declines in FHA (16.0%) and VA (18.0%) volume.

Short Takes: In Demand: MSR Portfolios / Better Marks / The Benefits of Bank Ownership / FHFA Hires FDIC Vet Steckel / Correction on Ginnie Transfers

April 21, 2021

Paul Muolo, John Bancroft, and Dennis Hollier

It's a good time to sell mortgage servicing rights...

Agency Delinquency Rates Decline Sharply in 1Q21

April 20, 2021

John Bancroft

The combined overall delinquency rate for Fannie and Freddie dropped to 2.57% at the end of March...

Ginnie Servicer Buyouts for Loss Mitigation/Foreclosure Jump 58% in 1Q21

April 20, 2021

John Bancroft

The game is on: Ginnie Mae buyouts for loss mitigation/foreclosure purposes spiked in 1Q21 to $9.7 billion...

MSR Transfer Market Off to Puzzling Start in 1Q21

April 19, 2021

John Bancroft

Amazingly, there were no bulk transfers of Ginnie MSRs. None.

Nonbanks Help Freddie Gain Share in 1Q21 GSE Servicing

April 16, 2021

John Bancroft

A number of nonbanks added significantly to their Freddie servicing portfolios during the first quarter, raising the industry's stake to over half of the market. Meanwhile, delinquency rates fell sharply in early 2021. (Includes two data charts.)

MSR Transfer Market Off to Puzzling Start in Early 2021

April 16, 2021

John Bancroft

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.)