Agency securitizations saw a healthy rebound in 2Q23 after the bleak results of the previous quarter. Retail production of purchase mortgages drove the recovery. Loan quality also improved. (Includes two data charts.)
Lenders produced $4.00 billion in HECMs during the first quarter. Soaring interest rates, a cooling housing market and retreating inflation have all contributed to the 52.2% year-on-year drop in volume. (Includes three data charts.)
An analysis of agency securitizations shows brokers gaining market share as their loan sizes increased faster than other channels. Credit scores improved somewhat but DTI and LTV ratios rose. Refis took a smaller slice of a shrinking pie. (Includes two data charts.)
Loan removals from Ginnie Mae MBS fell to their lowest point in at least four years as payoffs, defaults and loss mitigation all ebbed in the first quarter of 2023. (Includes data chart.)
The volume of outstanding loans in Ginnie Mae mortgage-backed securities rose 1.6% to $2.181 trillion in the first three months of 2023 as delinquency rates improved across the board. (Includes four data charts.)