MBA's Mike Fratantoni: “For the second week in a row, the share of loans in forbearance has increased, driven by a rise in new forbearance requests..."
The estimated $822 billion of conventional-conforming lending set a quarterly record and represented 72.1% of the huge third-quarter wave of mortgage originations.
Fitch also revealed that Provident received a $20 million equity infusion from an affiliated entity in March. Craig Pica, Provident’s CEO, and members of his family, own a majority stake in the lender.
As of the end of October, Ginnie issuers had produced $615.55 billion of new single-family MBS, well over the highest total for a full year set in 2019 at $498.33 billion.