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John Bancroft

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Most GSE Buyback Claims Resolved in Seller’s Favor

February 28, 2020

Fannie Mae posted significantly lower loan repurchase numbers than Freddie Mac for the fourth quarter, at the same time withdrawing a relatively larger share of buyback claims. (Includes two data charts.)

Banks See Modest Earnings Gains from Mortgage Banking

February 28, 2020

John Bancroft

Wells Fargo and JPMorgan Chase, the top banks in mortgage banking income, saw significant quarter-to-quarter volatility in 2019. Flagstar pulled itself out of a rut in the fourth quarter but still posted a hefty net mortgage banking loss for the year. (Includes data chart.)

Banks Up Their Holdings of Non-Mortgage ABS in 4Q19

February 27, 2020

John Bancroft

The biggest asset categories, consumer finance and credit cards, saw declines in bank investment during the fourth quarter, but the industry added ABS backed by auto loans, business finance notes and leases.

First-Timers Play Key Role in Purchase-Loan Market

February 27, 2020

John Bancroft

For the second year in a row, first-time buyers accounted for over half of agency purchase-mortgage business. Despite a substantial dip in the fourth quarter, overall purchase originations in 2019 hit their highest level in more than a decade.

Purchase Lending Outstripped Refis in 2019, FTHBs the Key

February 27, 2020

John Bancroft

Wells Fargo was the Big Kahuna of purchase lending in 2019 while Quicken Loans was the refi king, Inside Mortgage Finance found…

Depositories Boost MBS Holdings … Thanks to a Mortgage-Hungry BofA

February 21, 2020

John Bancroft

Bank of America added $9.13 billion to its MBS portfolio, which nearly matched the $9.60 billion increase for the entire industry.

Banks Boost MBS Holdings in 4Q19 Thanks to BofA

February 20, 2020

John Bancroft

The biggest gain in bank MBS investment over the past year was in agency pass-throughs, up 11.4% from December 2018, although holdings of non-agency securities also climbed 7.4%. (Includes two data charts.)

Private MI Loses Share as Refi Buoys FHA/VA in 4Q19

February 20, 2020

John Bancroft

Arch Mortgage Insurance retained its ranking as the top private MI in the business, but several of its competitors gained market share in 2019. (Includes two data charts.)

A Record Year for the MI Industry in 2019 but New Business Tapered Off in 4Q

February 20, 2020

John Bancroft

Private MI business fell off 7.6% from the third to the fourth quarter, however, a period when FHA and VA activity continued to climb.

Retail-Sourced Mortgages Continue to Have Higher Credit Scores

February 19, 2020

John Bancroft

But there were some hiccups in the overall trend. For starters, refi loans originated in the retail channel actually had slightly lower average credit scores than correspondent- and broker-originated refinances…

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