Climate change has people on the move, but they seem to be immigrating to exactly the wrong places.

Total issuance of Ginnie Mae mortgage-backed securities declined slightly during the first quarter of this year. Still, volume was up sharply from the first three months of 2023. (Includes four data tables.)

Both the correspondent and broker channels increased their share of FHA and VA lending in 2023. (Includes data table.)

Fannie Mae and Freddie Mac accounted for 44.1% of all mortgage originations in 2023, compared with 48.6% in 2022 and more than 58% in both 2021 and 2020.

The increase was driven by higher scores on purchase mortgages.

The average credit score for an FHA loan delivered into Ginnie Mae mortgage-backed securities increased in 2023, while average scores for VA loans didn’t budge. (Includes two data tables.)

Deliveries to the GSEs in January dropped to their lowest level since February 2023, with both purchase and refi volume down. (Includes two data tables.)

The shifting volumes of the nation’s top servicers reflect MSR strategies in the tight mortgage markets since the Fed began raising rates. (Includes two data tables.)

Some $30.43 billion in Ginnie Mae mortgage-backed securities was issued last month. FHA volume held up better than VA activity. (Includes two data tables.)

Although most top-10 GSE lenders increased deliveries to Fannie Mae and Freddie Mac in November, MBS issuance declined by 7.0% on a monthly basis.