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Volume 11 - Number 16

August 10, 2018

Downloads Available: Top Securitizers of USDA Mortgages: 6M18

Downloads Available: USDA Rural Housing Mortgage Activity by State: 6M18


USDA Issuance Down at Midpoint From 2017, Up in Second Quarter

Fewer rural single-family mortgages and modified home loans with a USDA guarantee were securitized during the first six months of 2018 compared to last year. Delivery of USDA loans into Ginnie Mae pools over the last two quarters totaled $8.6 billion, down 10.1 percent from the same period last year but up 12.4 percent in the second quarter from the prior period. PennyMac topped all USDA issuers with $1.7 billion worth of rural housing MBS issued during the first half of 2018, up 22.1 percent year-over-year. New issuance also rose 30.0 percent in the second quarter from the previous quarter, enough for a 20.2 percent share of the securitized USDA market. ... [chart]

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Poll

With loan volumes declining, does your shop have plans to enter the non-QM lending market in 2019?

Yes, definitely. A solid move forward.
Yes, but only incrementally.
We’re pondering a move into non-QM, but haven’t made up our mind.
No, definitely not. We view it has too risky.

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