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.

GSE-related buybacks increased by 2.3% on a quarterly basis.

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.

Rocket leads the pack on expanding conforming-loan pricing ahead of 2024 loan limits.

The move comes amid an uproar in the industry regarding an increase in loan buyback requests.

Leaders of the Mortgage Bankers Association and the Housing Policy Council argue that the government's role in the mortgage market is too large.

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.

Activity by Fannie Mae and Freddie Mac involving shared equity loan programs has been limited to this point and the FHLBanks are currently prohibited from acquiring mortgages in shared equity programs.

GSE MBS issuance declined by 6.2% on a monthly basis in August.

"It’s really difficult to predict with certainty and detail what exactly is going to happen in the third quarter of 2026," said Leda Bloomfield, branch chief for policy and equity at the FHFA.