Originations of FHA and VA loans through the retail channel dropped a hefty 52.5% in 2022, allowing the correspondent channel to become the dominant source of government-insured lending. (Includes data chart.)

Issuance of Ginnie Mae single-family mortgage-backed securities dropped 5.6% in November as refinances hit their lowest level in more than three years. (Includes two data charts.)

Issuance of new Ginnie Mae mortgage-backed securities fell 10% in the third quarter. Purchase-money activity climbed at both FHA and VA, but not enough to offset declines in loan mods and cash-out refinances.