The nation’s top six depositories funded a combined $139.3 billion of mortgages in the fourth quarter of 2020, down both sequentially and on an annual basis.
Chase is set to issue one of the largest post-2010 prime non-agency MBS with new production while Credit Suisse has a smaller non-QM deal with somewhat seasoned mortgages.
In January of last year, the flow of VA loans into Ginnie MBS exceeded the volume of FHA loans, a trend that culminated in December, when VA accounted for 57.0% of monthly issuance.
Depository institutions saw their combined agency servicing shrink 2.5% from the third to the fourth quarter, squeezing their share of the market to 42.2%.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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