Both the FHA and VA programs saw increases, but the bulk of the growth in Ginnie issuance in the third quarter came from FHA loans.

The latest non-agency MBS from A&D Mortgage and Redwood Trust are larger than the previous issuance by the firms.

Ginnie is offering flexibility for pooling reperforming loans in MBS.

NPL sales by the GSEs declined by 66% on an annual basis in 2022.

The structured finance market produced $396.17 billion of new issuance in the third quarter, down 4.5% from the second quarter.

“The only kind of new supply coming out of the market in any scale is ground-up construction or refreshed housing products,” said Steven Trowern, the founder and principal of Temple View Capital.

Buydowns are concentrated on GSE mortgages with coupons of between 5.0% and 6.5%...

The top three issuers of non-agency MBS in 3Q23: JPMorgan Chase, Onslow Bay Financial and Invictus Capital...

Mortgage lenders delivered $282.16 billion of first-lien home loans into the agency secondary market during the third quarter of 2023, a modest 2.3% increase from the prior period, according to a new ranking and analysis by Inside Mortgage Finance.

After FHFA finishes a review of the Federal Home Loan Bank system, the agency will issue at least one proposed rule with reforms.