All but one of the top 10 Fannie/Freddie lenders increased deliveries to the GSEs last month. Overall, the two government-sponsored enterprises securitized 22.3% more loans in May than in April.

Issuance of Ginnie Mae MBS declined for the eighth straight quarter during the first three months of 2023. The deterioration was relatively uniform between FHA and VA volume. (Includes four data charts.)

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.)

Non-agency mortgages, both jumbos and non-qualified mortgages, look promising to Western Alliance Bank as margins on conventional-conforming loans compress and production falls.

Mortgages in the transaction were acquired by Western Alliance Bank on a correspondent basis and will remain on its balance sheet. Risk-sharing deals in the non-agency market are rare and largely involve megabanks.

The trade group reiterated that Fannie and Freddie should not be permitted to exit conservatorship until further systematic, wholesale and long-term reforms are made permanent.