Fannie Mae and Freddie Mac issued a combined $2.34 billion in CRT securities, excluding reinsurance deals, in the second quarter. That was down 18.0% from the first quarter.

Loose IT security controls could have made it possible for a malicious employee, or an external party with access to that employee's account, to gain full control of the FHFA network.

Ginnie MBS issuance increased by 8.3% on a monthly basis in July while GSE volume declined somewhat.

Holdings of both mortgage-backed securities and mortgages rose in the quarter, with MBS totals up 5.9% and mortgages up 4.1%.

Increases in loan loss provisions in the second quarter offset the beneficial impact of higher interest rates.

While Fannie economists see two rate cuts this year in their crystal ball, economists at Freddie suggest that there might only be one.

The non-agency securitization market for closed-end seconds has grown substantially in the past year as lenders look to expand their product offerings with refinance business limited.

Freddie saw the bigger monthly increase in MBS output, up 9.4% from April. Business was up 6.3% at Fannie.

Most of the increase in Freddie buybacks in the first quarter of this year came from loans that were securitized in 2023, which totaled $219.1 million and represented 65.8% of Freddie repurchases in early 2024.

The reduction in costs helped lenders that maximize LPA maintain profitability while the industry as a whole experienced a negative 5.8% margin, according to findings from Freddie Mac.