Agency MBS Volume Roaring
Monthly issuance of mortgage-backed securities at the two government sponsored housing enterprises has roughly doubled during the past year, while June volume at the Government National Mortgage Association reached another high.
At Fannie Mae, issuances were $127.9 billion during June, according to data reported by eMBS.
Volume crept higher from $127.0 billion the prior month and was more than double the $46.5 billion in issuances a year earlier.
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M.I. Defaults Rise, New Business Declines
Mortgage insurance defaults increased and new business decreased as policies in force fell for the fifth straight month.
Serious Delinquency Soars at Fannie
Fannie Mae saw a jump in new monthly business. But serious residential delinquency climbed to a new high, while multifamily delinquency has quadrupled over the past year.
Record Delinquency at Freddie as Business Drops
Freddie Mac delinquency has increased each month for the past two years and stands at an all-time high. New business, meanwhile, was down from the prior month and the prior year.
Originations Surge at Texas Bank
Mortgage originations have exploded at Colonial Savings F.A.
Origination Forecast Slashed
Mortgage bankers have scaled back on their projections for originations this year by more than $700 billion.
Record Ginnie Issuance
Business at the Government National Mortgage Association climb to an all-time high.
AR Lender Leaps Past $1 Billion in Loan Fundings
An Arkansas-based mortgage banking firm has already originated more than $1 billion in home mortgages this year and is on track to double its regular annual volume.
U.S. Originations Off
Just two of the top five residential lenders saw an increase in originations during April, according to government data on the biggest recipients of the Troubled Asset Recovery Program. Collectively, the top TARP recipients saw home loan fundings fall.
Originations Still Projected to Increase
Although mortgage applications have declined by more than half during the past two months, Freddie Mac is still projecting that third-quarter originations for U.S. lenders will jump by more than 20 percent from the current quarter.
