Lenders with heavy concentrations of refi loans, like Quicken and Freedom Mortgage, recorded big declines in agency business during the second quarter of 2021. (Includes two data charts.)
Freedom Mortgage upped its FHA/VA production thanks to big gains in retail and correspondent activity, and even claimed the top spot in broker despite a 14% downturn. (Includes data chart.)
Delinquency rates remain at low levels for multifamily mortgages in Ginnie MBS, though modified loans accounted for 18% the outstanding market. (Includes data chart.)
Wells Fargo and JPMorgan Chase, the largest bank mortgage lenders, reported significant increases in the first quarter. But PlainsCapital Bank and Federal Savings Bank both posted double-digit declines.
Then again, Fannie and Freddie don’t buy everything that’s eligible. In recent months, there has been a burst of non-agency MBS issuance backed by GSE-eligible loans...
For some sellers, the curbs don’t represent much of a bump in the road. For Quicken Loans, the top GSE seller over the 12-month period, investor/second-home loans were roughly 5.5% of its sales to both Fannie and Freddie.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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