A number of companies gained market share in government lending during the second quarter as the industry leaders, Freedom Mortgage and PennyMac, reported declining production. (Includes data chart.)
New issuance of rated non-agency MBS was up strongly from the first to the second quarter and all five rating services upped new business. But new issuance of rated ABS was down slightly, and competition intensified. (Includes two data charts.)
Most top home-equity lenders reported increased production levels in the second quarter. But retained portfolios of HELOCs and closed-end seconds continued to shrink. (Includes three data charts.)
Retail, correspondent and wholesale lending declined in the conventional-conforming and government-insured markets in the second quarter and increased in the jumbo sector.
It doesn’t happen often (the last time was more than 15 years ago), but Freddie bested Fannie in single-family MBS issuance in August. Freddie saw big gains in multi-lender swap and guarantor business. (Includes two data charts.)
United Wholesale ranked as the top conventional-conforming lender thanks to its dominant wholesale-broker platform. The company made a splash in the surging jumbo sector. (Includes two data charts.)