Most of the increase in bulk MSR transfers in the third quarter came from Mr. Cooper’s acquisition of Home Point Financial’s portfolio. But coissuance activity increased more than total agency MBS issuance. (Includes three data charts.)
Delinquencies on securitized mortgages increased in all parts of the agency market during the third quarter. The increase was concentrated in early-stage delinquencies. (Includes data chart.)
Banks and thrifts increased their holdings of mortgages they intend to sell by nearly 10% during the second quarter. Both originations and loan sales increased during the quarter. (Includes two data charts.)
California had more than double the amount of originations by nonbanks in 2022 compared with any other state. The refi share of originations by nonbanks in California was also elevated. (Includes data chart.)
Overall, mortgage-banking income at banks increased by 8.7% from the first to the second quarter, though income declined at several top banks. (Includes data chart.)
Artificial intelligence can cut down on “stare and compare” tasks. But mortgage originations are so complex, and anxiety-provoking for borrowers, that humans are essential.
The volume of mortgages classified as held for sale at banks and thrifts ticked up in the first quarter, ending a long decline. Loan sales by banks also outpaced originations of mortgages intended for sale. (Includes two data charts.)
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