Three names are being kicked around to head Ginnie Mae, the government’s $2 trillion MBS guarantor: Robert Couch, Clinton Jones and Joe Murin. But is something else afoot?

Nearly $320 billion of newly originated home loans were funneled into the MBS market during the second quarter, but that represented just 56.4% of new production in the primary mortgage market.

Issuers and investors in the securities market are divided on what exactly should be done with the qualified mortgage “patch.”

Fannie, Freddie and Ginnie issued a combined $170.7 billion in new single-family MBS in August, their highest monthly volume since November 2012. A big surge of refinance business was a major factor.

GAO’s analysis of fiscal 2016 default data indicates more than 5% of distressed loans FHA sold to investors were ineligible for sale.

Ginnie Mae saw a huge increase in rate-term refinance business, but the cash-out market also gained ground. Freddie led its rivals in attracting more first-time buyer business.

Volume rose sharply from the first quarter in the major product categories, although the non-agency MBS market was soft.

A sharp increase in the securitization rate of nonprime and expanded-credit mortgages was partly due to seasoned loans and GSE-eligible mortgages. Agency securitization rates were sluggish.

Fannie posted the biggest increase over April MBS volume, while Freddie lagged behind. Purchase-mortgage business is on track for another annual climb.