Why all the M&A interest in mortgage vendors and fintechs?

Bank of America, Wells Fargo and Chase ranked first, second and third, respectively, in terms of ARM lending in the second quarter. All are megabanks...

The deal will mark the fifth MBS Angel Oak has issued since mid-May, all of which have been stocked with mortgages originated before April.

Fannie Mae, for one, believes the proposal could prompt a 20 bp increase in g-fees.

Citi led the pack with $2.46 billion of EC production in the second quarter, more than doubling its volume from 1Q20.

the good news: Mortgage servicers so far have been advancing principal and interest on missed payments to the secondary markets...

Expanded-credit lending declined in the second quarter as many prominent nonbanks paused production. However, lending by depositories helped prop up volume, led by Citi with its menu of interest-only mortgages. (Includes data chart.)

The impairment rate on non-QM MBS declined to 19.3% in July from 20.4% in June. While loan performance is improving, MBS investors could suffer reduced cash flows and losses as modifications end.

The majority of loans in Goldman's MBS were included in deals issued in 2017 and 2018 that were subsequently collapsed. Angel Oak, Chase and MFA also issued MBS within the past two weeks.