The top three bank ABS investors reported a combined 12% decline in their holdings during the first quarter. But ABS investment was up at PNC Bank, Capital One and Radius Bank. (Includes two data tables.)
Although Fannie saw a 20% decline in Supers MBS issuance in the first quarter, Fed data show a substantial increase in the central bank’s “aggregated” holdings of Fannie securities. (Includes two data tables.)
A handful of heavy hitters in the nonbank mortgage world recovered from significant losses in the fourth quarter with solid profits in early 2024. GOS margins were mostly up, along with production volume. (Includes data table.)
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.)