Overall, refinances accounted for 64.2% of new business compared to a reading of 60.1% the week before. The trade group’s purchase index decreased 6.0%

The venerable agency MBS platform set production records in both the third and fourth quarters of 2019, caught its breath in early 2020, and then rose 12.7% to a new high in the April-June cycle.

Wells posted a 204 basis point held-for-sale production margin, up an impressive 96 bps from 1Q20...

The Fannie Mae/Freddie Mac measurement came in at 6.07%, down 11 bps, the fifth consecutive decline.

Roughly $8.04 billion of non-agency MBS backed by new production was issued in the second quarter, down 39.0% from the first three months of the year.

Record-low mortgage interest rates powered a surge in refinance activity in agency mortgage-backed securities platforms during the second quarter of 2020, according to a new Inside Mortgage Trends analysis.

However, homeowners have shown little interest in accessing the available equity through cash-outs.

Finance of America Mortgage funded roughly $5.19 billion in the second quarter, a $1 billion sequential improvement. Other lenders also posted gains.

DBRS Morningstar edged out Kroll Bond Rating Agency as the top firm in rating non-agency MBS in the first three months of the year.

Loan brokers, on the other hand, added 1,100 full-timers in May, bringing their employment count to 93,700. Over the past 12 months, brokerage firms have added 8,500 workers.