All three mortgage-production channels generated solid increases in new origination volume during the third quarter of 2014, but the correspondent market had a measurably bigger gain, according to a new Inside Mortgage Finance ranking and analysis. An estimated $105 billion of home loans were produced by correspondent originators during the third quarter, up 14.1 percent from the previous quarter. That lifted the correspondent share of new originations to 30.4 percent for the quarter, and 30.3 percent on a year-to-date basis. Correspondents are...[Includes four data charts]
Fannie Mae and Freddie Mac mortgage-backed securities remained the preferred investment choice of the 12 Federal Home Loan Banks during the third quarter of 2014, with a very slight decline from the previous quarter, according to a new analysis and ranking by Inside The GSEs based on data from the Federal Housing Finance Agency. Meanwhile, Ginnie Mae securities posted effectively no movement within the FHLBank system during the three-month period ending Sept. 30, 2014.
Together, Fannie Mae and Freddie Mac in October posted a combined decline in the volume of single-family mortgages securitized, according to a new Inside The GSEs analysis. Fannie and Freddie issued $63.1 billion in single-family mortgage-backed securities in October, a 1.5 percent decrease from September. On a year-to-date basis, October’s MBS issuance dropped an even steeper 50.6 percent.