The refi boomlet lost steam after peaking in November. PennyMac overtook Freedom Mortgage at the top of the issuer ranking in January. (Includes two data tables.)
The retail channel gained market share in agency deliveries as refinance deliveries increased sharply during the fourth quarter of 2024. Underwriting standards tightened and loan sizes rose. (Includes two data tables.)
Ginnie servicing portfolios expanded modestly in the fourth quarter as VA outstandings broke through the $1 trillion level. Delinquencies continued to rise to levels not seen since the pandemic. (Includes four data tables.)
While retail continued to be the top channel in securitizations of conforming loans, correspondents gained 294 basis points of market share in the third quarter.
The retail share of conventional-conforming production rose by more than three percentage points while government and nonconforming lenders turned toward correspondents. (Includes two data tables.)