While the VA program still accounted for over half of the loans sold into Ginnie MBS in April, the FHA saw a significantly bigger increase in monthly volume. Freedom Mortgage held onto the top spot among Ginnie issuers despite a slowdown in production. (Includes two data charts.)
Freddie Mac accounted for most of the monthly gain in single-family agency MBS issuance, which rose to $372.9 billion in April, a new all-time high for the market. (Includes two data charts.)
The GSEs reported a modest decline in net interest income, which includes earnings from MBS guarantee fees. The surge in g-fee income from the adverse market fee implemented in December will be spread over the expected life of the loans. (Includes data chart.)
The fastest-growing segment of the servicing market included companies ranking sixth through 25th in total servicing. Nonbanks gained ground while depositories fell back. (Includes two data charts.
A diverse group of 21 commercial banks and savings institutions reported $3.75 billion of mortgage-banking income for 1Q21, a 1.7% improvement from the fourth quarter.
Of the total in COVID deferral status at the end of March, 91.56% of loans were current. Another 3.76% were one or two payments past due, and 4.69% were three or four payments late.