The call-report figures generally track buyback trends documented by Fannie and Freddie, though the bank figures may include repurchases and indemnifications linked to other buyers.
JPMorgan's Jamie Dimon welcomed the FSOC news, saying during a Q&A session, “We’ve been very consistent that mortgages, believe it or not, are more – far more costly than they should be. Normally, you’d be looking at – if you looked at the 10-year [Treasury] rate which is what, 60 basis points, the mortgage take should be 1.6% or 1.8% instead of 3.3%.”
The venerable agency MBS platform set production records in both the third and fourth quarters of 2019, caught its breath in early 2020, and then rose 12.7% to a new high in the April-June cycle.