In the first six months of 2020, originators of all stripes funded $23.3 billion of EC loans, accounting for 1.5% of total first-lien production. Somewhat surprisingly, lending volume for the sector was up 5.4% compared with the halfway point of 2019...
Retail-originated loans single-handedly boosted the jumbo market in the second quarter. Halfway through the year, retail loan production accounted for 86% of jumbo volume among a large group of lenders. (Includes data chart.)
The CFPB’s proposal could drastically reduce the number of non-QMs originated while helping the non-agency market compete with the GSEs. Industry groups and consumer advocates endorse the tradeoff.
Industry groups warn that most ARMs that reset within five years of origination won’t qualify for safe-harbor status under the CFPB’s qualified-mortgage proposal.
Wells Fargo is set to issue its first expanded-credit MBS. Loans in the deal have seasoned for an average of 15 months and other issuers are prepping MBS with somewhat seasoned mortgages.
Although three big banks reduced their first-lien portfolios during the second quarter, total holdings by banks and thrifts increased. (Includes data chart.)
IO lending among a group of 15 prominent lenders increased by 35.3% in the second quarter. Banks accounted for nearly all of the increase. (Includes data chart.)