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John Bancroft

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Refi Avalanche Overshadows 2020 Gain in Purchase Loans

July 31, 2020

Fannie Mae saw bigger gains in both refinance and purchase mortgages during the first half of 2020. (Includes two data charts.)

Bulk MSR Transfers Swoon in 2Q20, Coissuance Slows

July 31, 2020

John Bancroft

Most of the major bulk buyers of agency servicing rights moved to the side-lines in the second quarter of 2020, and more mid-sized lenders opted to hold MSR rather than sell through coissuance arrangements. (Includes three data charts.)

Banks Report Huge Gain in Mortgage Banking Income

July 31, 2020

John Bancroft

The second quarter of 2020 generated the strongest profits from mortgage banking that the banking industry has seen in years. MSR accounting issues were a drag, but production volume and margins soared. (Includes data chart.)

Commercial MBS Pummeled in 2Q20, Agency Multifamily Solid

July 31, 2020

John Bancroft

Given the widespread shuttering of consumer-focused businesses due to the coronavirus, it’s no surprise that securitization of loans on retail properties plummeted 90.1% to just $275.0 million.

GSE Earnings Rebound in 2Q20, SF Loan Holdings Up

July 30, 2020

John Bancroft

After taking big hits in credit expenses and hedging losses in early 2020, Fannie and Freddie reported more normal net income in the second quarter. (Includes data chart.)

Commercial MBS Pummeled in 2Q20, Agency MF Solid

July 30, 2020

John Bancroft

Not surprisingly, mortgages on retail and lodging properties were hit the hardest in the economic fallout of the coronavirus. Agency multifamily MBS issuance rose significantly in the second quarter. (Includes data chart.)

Crosscurrents in Servicing: Fragmented and Forbearing

July 30, 2020

John Bancroft

Delinquency rates generally went higher in the second quarter, and forbearance counts continued to climb. With MSR sales down, larger servicers generally ceded ground to smaller firms. (Includes three data charts.)

Taking Stock of the Servicing Market: Forbearance Readings, Nonbanks...

July 30, 2020

John Bancroft

Government-guaranteed loans in Ginnie mortgage-backed securities accounted for 48.1% of agency loans in forbearance.

FHA/VA Delinquencies Spike in 2Q20. Is the Worst Over?

July 27, 2020

John Bancroft

At the end of June, a whopping 14.07% of FHA loans in Ginnie pools were delinquent, up from 7.57% in March, according to an Inside FHA/VA Lending analysis of MBS disclosures.

FHA/VA Delinquencies Soar in 2Q20, Is the Worst Over?

July 24, 2020

John Bancroft

There was a huge spike in early-payment delinquencies in April that migrated to more serious categories of default in May and June. Last month saw a huge increase in servicer buyout of delinquent loans. (Includes four data charts.)

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