Ginnie Mae securitized $31.39 billion of FHA single-family purchase loans during the first quarter of 2019, according to a new Inside Mortgage Trends analysis of agency mortgage-backed securities disclosures. Although that represented an 18.4% drop from the previous quarter, the FHA share of agency purchase loans edged up to 30.8% in early 2019 as other insurance programs saw larger declines. Private mortgage insurance remained ... [Includes one data chart.]
The wholesale-broker channel appears to be gaining ground in the tightly competitive primary market in agency conforming mortgages. A new Inside Mortgage Trends analysis reveals that broker originations accounted for 12.5% of single-family loans pooled in agency mortgage-backed securities during the first quarter of 2019. That represented a substantial leap of 1.3 percentage points from the broker share of Fannie Mae, Freddie Mac and Ginnie Mae ... [Includes two data charts.]
Mortgage repurchases by banks and thrifts fell to $2.29 billion in 2018, the lowest annual total since institutions began reporting this activity on quarterly call reports in 2007. It would have been a lot lower without Bank of America. [Includes one data chart]
There was nowhere to hide in the fourth quarter of 2018 as mortgage banking income fell sharply both in loan production and servicing, according to a new Inside Mortgage Trends analysis of earnings reports from publicly held companies. [Includes one data chart]
Several publicly held nonbank lenders took a beating on servicing hedges and other factors during the fourth quarter of 2018, according to a new Inside Mortgage Trends analysis of earnings reports. Seven public firms reported a combined loss of $120.53 million on mortgage banking activity during the fourth quarter. [Includes one data chart]
Despite hefty declines in their sales volume last year, Wells Fargo and PennyMac continued to rank as the top sources of third-party originations in agency mortgage-backed securities. [Includes one data chart]
Commercial banks and savings institutions increased the amount of mortgage servicing rights they handle for other investors in the fourth quarter of 2018, although valuations for the asset softened. [Includes one data chart]
Retail mortgage lending remained the dominant originations channel in 2018, but it lost some luster to third-party production channels. [Includes two data charts]
Commercial banks and savings institutions made money on their mortgage banking activity during the fourth quarter, but not that much. [Includes one data chart.]
Mortgage lenders that deliver loans into Fannie Mae and Freddie Mac mortgage-backed securities continued to face relatively few repurchase demands from the two government-sponsored enterprises last year. [Includes two data charts.]
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