The securitization rate for non-agency jumbo mortgages more than doubled on an annual basis in 2024. And the non-agency MBS share of originations of expanded-credit mortgages increased. (Includes data table.)
Moody’s proposed using two home-price forecasts when assessing loans in residential MBS. Currently, the rating service uses one fairly conservative forecast for home prices.
On some recently issued expanded-credit MBS, servicing fees have been as low as 5 basis points. S&P and some other rating services review deals applying assumptions for higher servicing fees.
The amount of available home equity ticked down during the fourth quarter and lenders saw a fall in demand from homeowners for home equity loans. Still, for the full year, home equity lending increased by 10.8%. (Includes three data tables.)
The spring homebuying season might not be as strong as initially expected. Interest rates are challenging and employment trends are faltering, reducing demand for purchase mortgages.
“These programs have served as critical tools in expanding access to affordable homeownership, particularly for first-time and low- to moderate-income homebuyers,” NAMB said of special purpose credit programs at the GSEs.