Deliveries of rate-term refinance loans to the agency MBS market rose sharply in July as a growing share of the market has coupons over 6%. Purchase-loan volume was up 8% at Ginnie, while the GSEs saw a 3% decline. (Includes two data tables.)
A rising tide of purchase mortgage lending floated a lot of boats in the second quarter, and expanded the market share for private MIs. (Includes four data tables.)
Reset and refinance transactions accounted for half of the CLO issued in the second quarter, with volume more than doubling compared with the first three months of 2024. (Includes data tables.)
Mr. Cooper was the top buyer of bulk agency MSR packages, with a huge chunk of it coming from United Wholesale Mortgage. Coissuance activity also increased. (Includes three data tables.)
Vehicle-financing securitizations continued to dominate ABS issuance in the second quarter, although volume fell 9% from the first three months of the year. Business ABS issuance almost made up the difference. (Includes three data tables.)
Much of the second-quarter gain came from NPL/RPL and home equity securitizations. Prime MBS issuance in the first half was up three-fold from last year, while ECM production was up 32.7%. (Includes data tables.)
Heavy bulk MSR sales volume helped several top nonbanks grow their agency servicing portfolios in the second quarter. Most of the top banks watched their agency servicing decline. (Includes two data tables.)