The Ginnie Mae market continued to retreat in February. Most securitizers lost volume and PennyMac retained its top spot despite a 29.4% decline in issuance volume. (Includes two data tables.)
Refinance mortgages, especially streamlined refis, came roaring back, lifting 2024 VA lending volume by a sharp 28.5%. FHA volume is estimated to have risen 14.3%. (Includes two data tables.)
The refi boomlet lost steam after peaking in November. PennyMac overtook Freedom Mortgage at the top of the issuer ranking in January. (Includes two data tables.)
The retail channel gained market share in agency deliveries as refinance deliveries increased sharply during the fourth quarter of 2024. Underwriting standards tightened and loan sizes rose. (Includes two data tables.)
Ginnie servicing portfolios expanded modestly in the fourth quarter as VA outstandings broke through the $1 trillion level. Delinquencies continued to rise to levels not seen since the pandemic. (Includes four data tables.)
Bill Pulte, nominee for FHFA director, and Jonathan McKernan, the nominee for CFPB director, detailed some of their plans.
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