Agency securitizations of correspondent loans were sharply down in the first quarter of 2024 as volume dropped across the board. Refinances made a surprising surge, while credit quality remained unchanged. (Includes two data tables.)
Publicly traded banks reported a 21% increase in mortgage-banking income during the first quarter of 2024. Improving gain-on-sale margins accounted for much of the increase. (Includes data table.)
While overall correspondent sales to unaffiliated non-agency buyers declined in 2023, Veterans United increased its sales volume. (Includes data table.)