The flow of new single-family mortgage-backed securities in Ginnie pools dribbled to just $22.66 billion last month. Through the first two months of the year, volume was down 53.9% from the same period in 2022.
In January, lenders delivered 73.1% fewer mortgages to the GSEs than a year ago, but the month-over-month drop was just 4.5% from December. (Includes two data charts.)
Only two major mortgage lenders — PennyMac and CitiMortgage — managed to deliver more loans to Fannie Mae and Freddie Mac in the fourth quarter than in the third. (Includes two data charts.)
Retail lending took another precipitous drop in the third quarter. But the fall is more of a return to the norm after heady days fueled by refinances. (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.)
Sales of refinance loans plummeted to the lowest level in at least eight years. But purchase-mortgage sales had a bad month too. (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.
Amid declining volumes, the largest and smallest lenders who sell to the GSEs lost market share while large and mid-sized lenders got a bigger piece of the pie. (Includes two data charts.)