Freddie upped its share of GSE single-family MBS issuance with a 7.5% increase from September, while Fannie’s monthly volume slid 3.0% last month. (Includes two data charts.)
Although the non-QM portion of the non-agency market accounted for less than $10 billion in 2018, it could absorb more than $50 billion in former patch loans if it continues its current annual growth rate.
Both GSEs posted their highest monthly volume of single-family MBS issuance since January 2017. Purchase-mortgage and refinance business rose significantly.
“Patch” loans, cash-out refinances, investment loans and second family homes constitute more than 50% of the dollar volume of Fannie and Freddie MBS issuance.
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