Correspondents and brokers took back some market share in 2021 that had been lost to the retail channel in 2020. In the conventional-conforming market, retail share held steady, while some volume shifted from correspondents to brokers. (Includes two data charts.)
With interest rates starting to rise, production income took a hit in the fourth quarter of 2021. While servicing income increased, the mortgage business was less profitable. (Includes data chart.)
Negative outlook for margins; number of foreclosure starts declined in February; MBA launches affordability index; MISMO seeks participants and input on new initiatives.
Issuance of agency real estate mortgage investment conduits/collateralized mortgage obligations was essentially flat in 2021, with Ginnie sharply increasing its volume while GSE issuance declined. (Includes data chart.)