After spiking in the third and fourth quarters of 2020, GSE repurchases of delinquent loans from MBS pools fell sharply in early 2021. (Includes data chart.)
An increase in the refinance share of agency single-family business led to a decline in the correspondent channel's market share in the first quarter. (Includes two data charts.)
A group of 21 banks reported a combined $3.75 billion in mortgage banking income for the first quarter of 2021. While that was a modest 1.7% gain from the fourth quarter, it represented a huge 63.3% gain from the first three months of last year. (Includes data chart.)
Fannie and Freddie reported $83.8 billion of single-family loans in MBS pools under COVID payment-deferral plans. But 91.6% of COVID borrowers were current at the end of March. (Includes data chart.)
There were pockets of strength in the income-property securitization market, including financing on office properties, mixed-use projects and single-family rentals. But total CMBS issuance fell from the all-time record level set in the fourth quarter of 2020. (Includes data chart.)
First-lien mortgage originations climbed 3.2% from the fourth quarter, hitting an estimated $1.305 trillion in the first three months of 2021. Agency lending continued to dominate the market. (Includes two data charts.)
The top three home lenders in the first quarter: Quicken Loans, PennyMac Financial Services and Wells Fargo. UWM and Freedom Mortgage were a close fourth and fifth, respectively.
Ginnie Mae delinquency rates fell across the board during the first quarter of 2021, though still higher than a year ago. Solid growth in the VA market could not offset slumping FHA servicing. (Includes four data charts.)