Larger banks pull back on advances as mortgage lending cools.

The Golden State's high concentration of broker loans and refinancing is reflected in its top two sellers: United Wholesale Mortgage and Quicken Loans.

Fannie saw significant gains in both purchase and refinance business in April. Wells Fargo was dethroned as the top GSE seller for the month.

Fannie and Freddie have another profitable quarter, in spite of substantial hedging losses. No sign, though, that the net sweep will end soon.

Banks and thrifts racked up $571 billion of advances from the Federal Home Loan Bank system at the end of 2018, a 3.3% sequential gain but off 1.9% from a year ago, according to an analysis by Inside The GSEs. [Includes one data chart.]

Fannie Mae and Freddie Mac got proportionally more of their single-family business from large-volume sellers in the first quarter, although production was down sharply in every seller category. [Includes two data charts.]

Mortgage sellers repurchased just $833.7 mil-lion of single-family loans from Fannie Mae and Freddie Mac mortgage-backed securities last year, according to a new Inside the GSEs analysis. [Includes one data chart.]

Freddie Mac increased its production of single-family mortgage-backed securities at a time when its two secondary market competitors saw significant declines in volume. [Includes two data charts.]

The Federal Home Loans Banks’ combined net income for the fourth quarter fell to $791 million, an 8.7% decline from the fourth quarter of 2017. Year-over-year, net income rose slightly to $3.56 billion in 2018. But this apparent stability masked dramatic swings elsewhere on the income statement. [Includes one data chart.]