Some $7.29 billion of non-agency MBS was issued during the fourth quarter, down 41.5% on a sequential basis.

To the surprise of some, the program wasn’t heavily used by nonbank MBS issuers...

BofA, which ranked 10^th in Inside Mortgage Finance’s third quarter ranking, funds loans through only one channel: retail. Home-equity lending also took a hit: $469.0 million compared to $984.0 million in the third quarter.

In January of last year, the flow of VA loans into Ginnie MBS exceeded the volume of FHA loans, a trend that culminated in December, when VA accounted for 57.0% of monthly issuance.

If approved by the Senate he would replace Kathy Kraninger, a business-friendly Trump-appointed official who has led the agency since 2018.