An estimated $59.0 billion of refis were originated in the first three months of the new year, a 31.1% increase from the previous quarter.

The flow of purchase mortgages in Ginnie Mae MBS increased 15.0% from March levels, while securitization of refinance loans dropped 9.2%.

The share of risk the government-sponsored enterprises is offering to investors is also on the rise.

The top higher-priced mortgage lender in 2023 was 21st Mortgage, with $2.55 billion in volume.

Issuance of prime non-agency MBS in the first quarter of 2024 was driven by jumbo mortgages, though volume involving GSE-eligible mortgages also increased.

A big part of the gain in issuance came from deals backed by industrial properties...

The increase was driven by purchase mortgages, with volume up 11.3% on a monthly basis to $67.87 billion.

The steepest drop took place at Freddie, while Ginnie securitizations were relatively unscathed.

“We are very opportunistic in certain markets in which we like the vintage and the availability of credit,” Patterson said.

Another CEO who received a large comp hike last year even though his company posted a huge loss was Vishal Garg of Better Mortgage...