The third quarter of 2023 ranked as the busiest market for MSR sales since the second quarter of last year, when $327.82 billion of MSR transfers closed.
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.)
Although new issuance of NPL/RPL deals continues to decline, production of non-agency MBS backed by newly originated loans rose smartly in the third quarter, along with gains in securitization of home-equity products. (Includes three data charts.)
Lakeview is consistently one of the biggest players in the secondary market for agency MSR, but Chase and Mr. Cooper both recorded bigger gains during the third quarter. (Includes two data charts.)
Mortgage lenders delivered $282.16 billion of first-lien home loans into the agency secondary market during the third quarter of 2023, a modest 2.3% increase from the prior period, according to a new ranking and analysis by Inside Mortgage Finance.
Ginnie Mae continued to flex its muscles in the agency single-family MBS market, while non-agency issuance posted a strong third quarter. (Includes three data charts.)
Most of the gain in agency business was at Ginnie Mae as the data show a migration of lower-score borrowers from Fannie and Freddie to the FHA market. (Includes two data charts.)