In the conventional-conforming sector, the securitization rate rose to 71.4% from 68.8% as Fannie Mae and Freddie Mac churned out new MBS faster than the market was making new loans.

The top three home equity lenders in 2Q23: Bank of America, Citizens Bank and PNC...

Fitch and DBRS weathered the sharp drop in rated non-agency MBS issuance better than their competitors.

Overall, banks and thrifts held $2.491 trillion of first-lien mortgages at the end of June, up 0.7% from March.

Freddie MBS represented 3.7% of the collateral backing Fannie Supers in the second quarter, the highest level of commingling since the GSEs imposed new fees on such activity a year ago.

Brokers saw the biggest sequential increase in FHA/VA business, with volume up 59.1% from the first quarter to $13.35 billion.

Retail lending accounted for 85.9% of jumbo originations in the first half of 2023, among a group of prominent lenders surveyed by Inside Nonconforming Markets.

In the second quarter, money-market and mutual funds upped their holdings of MBS by 10.9% to an estimated $814.18 billion.

Ginnie Mae continued to set the pace in the agency single-family servicing market as its outstanding MBS rose 2.1% to $2.270 trillion.

Mortgage buybacks at banks increased slightly on a quarterly basis in the second quarter, though repurchase volume was down 30.4% on an annual basis in the first half of the year.