Purchases of refinance loans since December 2020 generated roughly $6.6 billion in adverse market refi fees for Fannie and Freddie, boosting them to a seven-year high in net income in the second quarter. (Includes data chart.)
The number of Ginnie loans one-payment past due jumped 17.3% from March to June, pushing the delinquency rate for the category to 2.06%. That compared favorably to a 3.60% 30-day delinquency rate two years ago.
Freedom Mortgage and Lakeview Loan Servicing were the top players in acquiring Ginnie servicing rights in the MSR transfer market during the second quarter. (Includes four data charts.)
Big increases in large-loan CMBS and single-asset/single-borrower transactions helped pump non-agency volume to $37 billion in the second quarter, the highest since the end of 2019. (Includes two data charts.)
A number of banks reported strong gains in production during the second quarter, while nonbanks continued to dominate the top tier of lenders despite mixed trends. (Includes two data charts.)
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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