The securitization rate for residential mortgages hit an estimated 68.6% in the third quarter, as more conventional-conforming loans flowed into GSE MBS.
Ginnie Mae increased its employee base by 25% on an annual basis in fiscal year 2024. Still, the agency is reliant on contractors, which accounted for more than 80% of Ginnie’s expenses.
GA-based lender and servicer Groundfloor hit the ABS market for the first time by issuing a securitization with deferred payments tied to residential transition loans.
In business for 40-plus years, FCI has stuck to its knitting of servicing delinquent and nonprime product. According to management, it’s secret sauce is focusing on state-of-the-art technology, including AI.
The fastest-growing sectors of the MBS market in the third quarter were Ginnie Mae and the non-agency market. Banks, foreign investors, money managers and insurance companies easily offset the slow decline in the Fed’s portfolio. (Includes two data tables.)
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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