Home » Authors » John Bancroft

John Bancroft

Articles

ARTICLES

Ginnie Sets Monthly MBS Issuance Record in October

November 8, 2019

Issuers last month produced a record $57.6 billion of Ginnie MBS backed by forward mortgages. While the flow of purchase loans rose modestly, the key growth engine was the refinance market. (Includes two data charts.)

Thanks to Refis, October Agency MBS Issuance Hits Peak for the Year

November 8, 2019

John Bancroft

PennyMac Financial Services was the most active seller-issuer in October with $15.73 billion. Quicken Loans was close behind at $14.10 billion…

Agency MBS Market Tacks in October as Refis Swell

November 7, 2019

John Bancroft

Continued growth in the refinance market pushed new agency MBS issuance slightly higher in October, offsetting further softening in the purchase-mortgage business. (Includes two data charts.)

Agency Market Rides Heavy Refi Wave in Third Quarter

November 7, 2019

John Bancroft

Third quarter production of government-insured loans looks like an all-time record, while the conventional-conforming market saw its biggest output since 2003. (Includes two data charts.)

Agency Market Rides Heavy Refi Wave in 3Q19, Best Showing Since 2003

November 7, 2019

John Bancroft

According to a new tally from Inside Mortgage Finance, refis accounted for 47.6% of first-lien originations in 3Q19 compared to 35.9% and 35.2% in the second and first quarters, respectively.

Refi Surge Bolsters Agency Retail Deliveries

November 5, 2019

John Bancroft

Purchase-loan activity increased significantly and continued to account for most agency business.

Juiced by Originations, Mortgage Banking Income Soars in 3Q19

November 4, 2019

John Bancroft

JPMorgan Chase was the top earner in the third quarter with $886.0 million in mortgage banking fees and related income, a three-fold increase from the previous period. However, the huge gain comes with a significant asterisk…

3Q19 Agency Refi Surge Lifts Retail Production

November 1, 2019

John Bancroft

In the third-quarter agency purchase-mortgage market, the retail channel generated loans with stronger credit characteristics than third-party platforms. For agency refi business, retail loans tended to have lower credit scores. (Includes two data charts.)

Mortgage Banking Income Soars in 3Q Lending Spree

November 1, 2019

John Bancroft

Chase reported a huge increase in mortgage banking income that resulted in part from internal accounting while Wells posted a big decline due to MSR writedowns. (Includes data chart.)