John Bancroft

Wholesale-Broker Channel Growing in Gov't Lending

June 21, 2019

Correspondent production remained the biggest source of FHA and VA loans, but the rapid growth at United Wholesale Mortgage is reshaping channel dynamics.

EC MBS Creation, Including Non-QM, Continues to Show Promise

June 21, 2019

John Bancroft

The expanded credit sector (which includes non-QM lending) shows promise but accounted for just 2.8% of total residential MBS issued in the first quarter, according to Inside MBS & ABS.

Agency REMIC Volume Up, Wells Top Underwriter in 1Q

June 20, 2019

John Bancroft

Ginnie Mae and Freddie Mac both posted strong gains in REMIC issuance during the first quarter. Wells Fargo Securities was the top underwriter of these deals.

Agency MSR Market Keeps Growing as Banks Hasten Their Retreat

June 20, 2019

John Bancroft

Much of the decline came right at the top as Wells Fargo reported a drop of $19.85 billion in total mortgage servicing during the first quarter.

Securitization Starts Slowly in 2019 Despite ECM Bump

June 20, 2019

John Bancroft

A sharp increase in the securitization rate of nonprime and expanded-credit mortgages was partly due to seasoned loans and GSE-eligible mortgages. Agency securitization rates were sluggish.

Agency MSR Market Keeps Growing, Banks Pull Back

June 20, 2019

John Bancroft

Most of the decline in bank MSR activity in the first quarter was attributable to Wells Fargo, while Flagstar accounted for a big chunk of the increase among savings institutions.

On the Mend Big Time: The Wholesale-Broker Channel Posts Big Gains (UWM)

June 19, 2019

John Bancroft

The surging broker channel is attributable to rapid growth at United Wholesale Mortgage, by far the largest platform in the business. According to IMFresearch, no other table-funder comes close.

Refinance Surge Boosts GSE Purchases for May

June 17, 2019

John Bancroft

The $29.42 billion of refinance mortgages sold to Fannie Mae and Freddie Mac was up 30.2% from April and marked the biggest monthly volume since December 2017.

Refi Surge Boosts GSE MBS in May, Market Share Steady

June 14, 2019

John Bancroft

Fannie's MBS issuance was up significantly from April to May while Freddie posted a smaller monthly gain. Purchase mortgages and refinancing both rose substantially.

Mortgage Banking Earnings Weak Again in Early 2019

June 14, 2019

John Bancroft

The average firm posted a pretax net loss of $214,000 loss in the first quarter. Retail-focused lenders and independent mortgage bankers fared relatively better.

John Bancroft

ARTICLES

Wholesale-Broker Channel Growing in Gov't Lending

EC MBS Creation, Including Non-QM, Continues to Show Promise

Agency REMIC Volume Up, Wells Top Underwriter in 1Q

Agency MSR Market Keeps Growing as Banks Hasten Their Retreat

Securitization Starts Slowly in 2019 Despite ECM Bump

Agency MSR Market Keeps Growing, Banks Pull Back

On the Mend Big Time: The Wholesale-Broker Channel Posts Big Gains (UWM)

Refinance Surge Boosts GSE Purchases for May

Refi Surge Boosts GSE MBS in May, Market Share Steady

Mortgage Banking Earnings Weak Again in Early 2019

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