Home » Authors » John Bancroft

John Bancroft

Articles

ARTICLES

Slip, Sliding Away: the Fed’s Role in the MBS Market

June 14, 2019

Commercial banks held a combined $1.673 trillion of MBS at the end of the first quarter, maintaining their position as the largest investor class in the market...

MBS Investors Step Up to Fill Central Bank’s Fading Role

June 13, 2019

John Bancroft

The Federal Reserve reduced its holdings of agency MBS by $47 billion during the first quarter, but several other investor groups picked up the slack. Total MBS outstanding grew 0.4% during the first three months of the year.

In Need of a Recovery: The Home Equity Lending Sector

June 13, 2019

John Bancroft

It was the weakest reading on home-equity originations since early 2015, when production of closed-end seconds and new borrowing on home-equity lines of credit totaled an estimated $38.0 billion.

Heavy Refi Activity Hurts Home-Equity Sector in 1Q19

June 13, 2019

John Bancroft

Home-equity lending fell 15% in the first quarter of 2019 as the total supply of HEL debt outstanding continued to shrink. Heavy cash-out refinancing was a factor.

Ginnie Mae MBS Issuance Jumps 18% in May

June 10, 2019

John Bancroft

In May, the top three Ginnie MBS issuers were PennyMac, Freedom Mortgage and United Wholesale Mortgage…

Ginnie MBS Issuance Sprouts as Purchase and Refi Boom

June 7, 2019

John Bancroft

The purchase-mortgage and refinance sectors saw nearly identical gains in Ginnie volume last month, with most of the refi increase in rate-term transactions.

Agency MBS Issuance for May: $116 Billion, the Best Reading of the Year

June 7, 2019

John Bancroft

Fannie Mae led the pack with $43.58 billion in MBS issuance last month, a 32.9% jump from April...

Agency Refi Market Gains Momentum in May MBS

June 6, 2019

John Bancroft

Fannie posted the biggest increase over April MBS volume, while Freddie lagged behind. Purchase-mortgage business is on track for another annual climb.

Agency Jumbo Production Off Sharply, Non-agency Steady

June 6, 2019

John Bancroft

Some of the sharp drop in non-agency jumbo securitization resulted from higher loan limits, but volume was buoyed by a large pool of seasoned loans sold to Freddie Mac.