Fannie and Freddie captured a smaller share of the conventional-conforming market last year, and non-agency issuance dropped sharply in the second half. (Includes data chart.)

No one likes to be asked to repurchase a mortgage that’s already been securitized. But are the GSEs playing too tough on buyback requests on performing loans? The issue has reached the FHFA.

Monthly business volume was up in March, and a handful of sellers grew their agency single-family production in an otherwise calamitous start to the new year. (Includes two data charts.)

The RMBS rating business nearly ground to a halt in the fourth quarter, but ECM was the place to be in 2022. ABS fared a little better, with business-finance and consumer deals showing relative strength. (Includes two data charts.)

Freddie Mac saw a big fourth-quarter increase in Supers issuance that appeared to make up for lost ground earlier in the year. All three agencies posted declines in new REMIC production in the fourth quarter. (Includes two data charts.)

While the GSEs are under mandates to shrink their retained portfolios, Freddie’s holdings increased in the final three months of 2022. (Includes data chart.)

Rising spreads brought credit-risk transfer issuance to a halt in the fourth quarter and more than halved reinsurance transactions. Still, combined Fannie and Freddie CRT deals hit a record $21.64 billion in 2022. (Includes data chart.)

Thanks to rising rates and sagging home values, early buyouts from Ginnie MBS are starting to look long in the tooth. Opportunities are out there, but are not for the faint of heart. (Includes data chart.)

The GSEs’ social disclosures should be as granular and specific as those reported for credit-risk transfer deals, according to investors.

The rating service said both technicals and fundamentals in the mortgage market appear more resilient to stress than in previous crises, while highlighting some vintage differences.