While banks and foreign investors have increased their holdings of agency MBS in recent quarters, the Federal Reserve continued to buy over half of net new issuance during the second quarter. (Includes three data charts.)
Fannie Mae and Freddie Mac posted significant gains in single-family business in the second quarter, but Ginnie was relatively flat and the non-agency servicing market continued to shrink. (Includes two data charts.)
Among a group of jumbo lenders that report originations by channel, the broker share increased to 7.0% in the second quarter from 1.6% in the first quarter. The increase in market share was largely tied to United Wholesale Mortgage.
New issuance of rated non-agency MBS was up strongly from the first to the second quarter and all five rating services upped new business. But new issuance of rated ABS was down slightly, and competition intensified. (Includes two data charts.)
It doesn’t happen often (the last time was more than 15 years ago), but Freddie bested Fannie in single-family MBS issuance in August. Freddie saw big gains in multi-lender swap and guarantor business. (Includes two data charts.)
Fannie Mae, Freddie Mac and Ginnie Mae all securitized a higher proportion of loans in their respective markets during the second quarter, but non-agency securitization rates benefited more from a surge in new lending. (Includes data chart.)