Residential mortgage REITs held $327 billion of single-family MBS at the end of the second quarter, according to a new market analysis by Inside MBS & ABS.
Although the largest minority groups still had higher denial rates, there were bigger-than-average increases in refi activity among black and Hispanic borrowers.
The top 20 bank and thrift mortgage servicers all reported increases in their MSR valuations, according to exclusive figures from Inside Mortgage Trends.
Mortgage buybacks can vary significantly among seller/servicers because it’s driven by business and legal processes rather than current market dynamics.
Despite growth in the non-agency jumbo market, primary market lenders remain focused on production that they can safely securitize through the GSEs and Ginnie Mae.
Large parts of the Bay Area and Southern California qualify for the top high-cost limit, while other California markets such as San Diego ($546,250) and Sacramento ($474,950) have intermediate high-cost limits.