To combat such “churn,” the agency is now advocating changes, including the establishment of a formal Ginnie/VA working group...

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.)

Purchase-money mortgages accounted for 79.3% of November issuance...

Invitation Homes owns roughly 80,000 SFRs throughout the U.S.

In its report to Congress on the liquidity of the VA home loan program, Ginnie Mae also made recommendations for improving the lending market.

Former Ginnie President Ted Tozer, who attended the investor summit, said a big topic was what the rapid increase in interest rates means for MBS.

Asian countries are expected to continue to dominate foreign ownership because of their large foreign-exchange reserves.

The Federal Reserve hiked rates by another 75 basis points. But Chair Jerome Powell said the time to begin selling the Fed’s MBS holdings “is not close.”

Issuance volume among some expanded-credit MBS contributors nearly doubled in the third quarter while others avoided the market. Issuers and lenders continue to face volatility in demand from MBS investors. (Includes three data charts.)

Demand for non-QMs in the secondary market remains weak. Investors are concerned about the prepayment profile of the loans, among other issues.