Multifamily Hurts Housing Permits, Completions
Although there was a month-over-month improvement in the pace of single-family housing permits and completions, apartment activity declined.
US Bank Mortgage Income, Lending Down from Yr Ago
While quarterly mortgage earnings and originations held up from the prior period at U.S. Bancorp, both retreated from a year ago. Residential holdings expanded, though. Commercial mortgage holdings were trimmed as delinquency rose.
Mortgage Business Expands at First Republic Bank
Single-family lending activity was stronger than a year ago at First Republic Bank. The residential servicing and asset portfolios both continued to expand.
PNC's Mortgage Income, Lending Off From Year Ago
While The PNC Financial Services Group Inc.'s mortgage earnings and originations weakened from a year earlier, third-party mortgage servicing has grown during the period.
Wells' Mortgage Income Worse, Originations to Drop
Mortgage earnings deteriorated at Wells Fargo & Co. While there was a modest quarter-over-quarter rise in home lending, current-quarter activity is likely down. Nonconforming assets grew. Commercial real estate loan investments were trimmed.
BofA Mortgage Swings to Loss as Origination Drop
Bank of America Corp.'s mortgage business contracted as repurchases and mortgage-servicing rights valuations drove mortgage earnings into the red. Commercial mortgage holdings rose.
Ginnie's FY 2017 MBS Issuance Up, Book Expands
Annual fiscal securitizations conducted on behalf of the Government National Mortgage Association increased, while the book of business continued to grow.
Late Pays on CMBS Down, Peak Might Have Passed
Led by industrial property loans, late payments on securitized commercial real estate loans fell as signs suggest the peak has passed. But office and retail property delinquency grew.
Decade Low Delinquency at Fannie as Book Expands
Single-family performance at the Federal National Mortgage Association is better than it's been in nearly a decade. Meanwhile, the manged portfolio continued to grow.
CMBS Delinquency Down 3rd Consecutive Month
For the third month in a row, the rate of past-due payments on securitized commercial real estate loans was lower. Office building loans led the improvement.