Wells Fargo was the only top-tier bank to boost its residential MBS portfolio in the first quarter, including a significant increase in its Ginnie pass-throughs. (Includes two data tables.)
Big increases in securitization of office-property and industrial mortgages lifted non-agency CMBS issuance to $21.9 billion in the first quarter, a 68.6% increase from the prior period. (Includes two data tables.)
Originations of purchase mortgages with primary MI coverage fell slightly in the first quarter, but the spike in refi activity, especially in the government market, more than made up the difference. (Includes four data tables.)
Publicly traded banks reported a 21% increase in mortgage-banking income during the first quarter of 2024. Improving gain-on-sale margins accounted for much of the increase. (Includes data table.)
All three agencies saw increases in monthly loan deliveries in April, with loan mods helping to boost Fannie to a 17.4% gain from March. The purchase market and cash-out refi remain strong. (Includes two data tables.)
Production of new collateralized loan obligations as well as reset transactions in the first quarter of 2024 hit the highest level since the market reached all-time highs in 2021.