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.)
While the fair value of bank MBS declined in the fourth quarter, the industry reported a slight gain on an amortized-cost basis. Bank of America led the ranking of bank MBS investors, though its portfolio fell $27 billion. (Includes two data tables.)
The VA, FHA and even private MIs posted big gains in writing insurance for refinance loans in the fourth quarter while purchase-mortgage business saw a seasonal decline. (Includes four data tables.)
All but one of the top 10 GSE sellers delivered a higher proportion of mortgages to Freddie Mac than Fannie Mae in January. (Includes two data tables.)
Private mortgage insurance companies lost nearly $6 billion of business on the purchase-mortgage side in the fourth quarter, but gained back almost all of it on the refinance side. (Includes two data tables.)
Although overall non-agency CMBS issuance fell slightly in the fourth quarter, volume was up in deals backed by retail and lodging properties. Agency multifamily activity quickened in the second half of 2024 but still came up a little short of the previous year. (Includes two data tables.)
Most “involuntary loan purchases” by servicers of Fannie/Freddie single-family MBS are related to loss mitigation and loan delinquency rather than loan defects. (Includes data table.)
A small group of lenders accounted for the majority of prime non-agency MBS issued in 2024. JPMorgan Chase was the leader in the market as both an issuer and lender. (Includes three 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.)
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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