Fannie Mae and Freddie Mac saw significant increases in the flow of both refinance loans and purchase-money mortgages during the second quarter of 2016, according to a new ranking and analysis by Inside Mortgage Finance. And for the first time in a long while, nonbank mortgage companies delivered over half of the single-family mortgages securitized by the two government-sponsored enterprises. Fannie and Freddie securitized...[Includes three data tables]

Non-depositories also added about $40.45 billion through the agency’s pools issued for immediate transfer program, or co-issuance option.

The rating service said the expected loss benefit at the AAA level will likely be modest or immaterial for most transactions.

Prime non-agency MBS issuance in the second quarter of 2016 was down by 74.1 percent from the previous quarter.

Most of the second-quarter gain came from the residential MBS sector…

A limited number of mortgages with TRID errors have already been included in jumbo MBS…

New issuance of U.S. residential MBS and non-mortgage ABS revved up significantly in the second quarter, a new Inside MBS & ABS analysis reveals. Based on the best available data, a total of $400.72 billion of new MBS and ABS were issued during the three-month period that ended June 30. That figure could edge slightly higher as more information about end-of-month activity becomes available. Second-quarter MBS and ABS issuance was...[Includes one data table]

The Federal Housing Finance Agency this week revealed estimates of how much it costs Fannie Mae and Freddie Mac to issue their popular credit-risk transfer debt notes, as well as more information on the kinds of investors that have been buying them. In addition to a report on the existing credit-risk transfer activities of the two government-sponsored enterprises, the FHFA also formally soliciting input on further development of the program, including the ongoing interest in so-called front-end CRT options. The FHFA’s cost estimates referred...

At the recent invitation-only Ginnie Mae “liquidity summit” in Washington, DC, some of the nation’s top regulators – including one from the Federal Reserve – expressed their concerns about the growing market share of nonbank issuers and servicers. The focus, as might be expected, centered on the capital position of nonbanks, which pales in comparison to depositories. As one attendee told Inside MBS & ABS: “It was all about bashing the nonbanks.” This attendee, who spoke under the condition his name not be used, said...

Pleas from the securitization industry for the Supreme Court of the United States to hear an appeal of Midland Funding v. Madden were rejected this week, prolonging uncertainty in sectors of the secondary market. SCOTUS may still consider the issue at some point going forward, according to analysts, providing hope for the industry. Richard Johns, executive director of the Structured Finance Industry Group, said the denial of certiorari for Madden will result in significant challenges for borrowers of credit cards, mortgages, auto loans and other financial products. “The injection of uncertainty into the credit markets will ultimately increase the cost of credit for all and directly impact the real economy,” he said. The Madden case involved...