The FHA/VA market was more subdued, with total conforming-jumbo loans pooled in Ginnie MBS rising 16.7%. The VA program accounted for 83.0% of government-insured jumbo volume, with quarterly securitization up 17.7%.

According to Moody’s, prior to the securitization, loanDepot had sponsored five warehouse deals totaling $1.8 billion...

The decline in first-time buyer share was due in part to a failure of the government-insured sector to keep pace with the conventional market.

More liquid is better than less liquid, especially during a refi bonanza...

Marzol described the capital rule, which was finalized in November, as “a key milestone on the path to responsibly ending the conservatorships.”

Among the top five agency MBS issuers for the 30-day period, just one was a depository: Wells Fargo at number three.

But the stratagem comes with costs. According to FHFA estimates, Fannie and Freddie will face between $1.1 billion and $1.7 billion in additional charges due to the extension. That’s on top of the estimated $6 billion the two have already incurred.

Ginnie Mae single-family MBS issuance fell slightly from October but remained at near record levels. All told, the three agencies pumped out nearly $355 billion last month, a 5% gain from October.

The FHFA's capital requirements for the GSEs don't exactly favor CRT transactions but the Biden administration is expected to encourage the deals.

Time to start planning for the 13th anniversary of the Fannie/Freddie conservatorships...