Our ranking of the nonconforming sector is divided among lenders that specialize in the products and those where it accounts for a small slice of production.
Fannie Mae and Freddie Mac are still titans in the residential MBS market when it comes to making new securities, but they have been forced to the sidelines as investors over nine years in conservatorship. The two government-sponsored enterprises held a combined $221.48 billion of residential MBS at the end of June. Firm numbers on the total volume of MBS outstanding at that point aren’t available yet, but it’s unlikely that Fannie and Freddie held more than 3.5 percent of the market. The two GSEs reduced...[Includes one data table]
According to our calculation, Fannie common now trades at $2.80, a 20.17 percent improvement since the close of 2Q17, while Freddie’s value rose 21.08 percent to $2.70.
Originations of non-agency jumbo mortgages increased in the second quarter of 2017, according to a new ranking and analysis by Inside Nonconforming Markets. But halfway through 2017, volume is lagging the production seen last year. An estimated $83.0 billion of non-agency jumbos were originated in the second quarter, up 18.6 percent from the previous period. In the first half of 2017, an estimated $153.0 billion of jumbos were originated, down ... [Includes one data chart]
Originations of nonconforming mortgages are increasing as lenders get more comfortable with the loans and seek to maintain production levels. Some $7.0 billion in nonconforming mortgages were originated in the second quarter of 2017, according to estimates by Inside Nonconforming Markets. The category includes nonprime loans, mortgages that don’t meet the qualified-mortgage test and other non-agency products, but it excludes prime jumbo loans. In our surveys ... [Includes one data chart]
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