Both FHA and VA volume in Ginnie MBS issuance declined on a monthly basis in October.

GSE securitization of mortgages with private MI declined in the third quarter while FHA activity increased.

The third quarter of 2023 ranked as the busiest market for MSR sales since the second quarter of last year, when $327.82 billion of MSR transfers closed.

Growth at Lakeview and Chase Home Finance finally toppled Wells Fargo as the largest agency servicer.

Both the FHA and VA programs saw increases, but the bulk of the growth in Ginnie issuance in the third quarter came from FHA loans.

Ginnie is offering flexibility for pooling reperforming loans in MBS.

Lending tied to the GSEs will largely carry on as usual though government-insured business could face some difficulties during a government shutdown.

Late last year, Ginnie seized the mortgage servicing assets of Reverse Mortgage Funding after the company filed for bankruptcy, citing liquidity issues.

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.

Interest rates could stay for higher than longer than previously expected...