Fannie and Freddie reported $1.01 billion in seller repurchases during the first quarter of 2022, the highest quarterly volume in nearly eight years. (Includes three data charts.)

Fannie and Freddie reported nearly $3 billion in repurchases of defective loans during 2021, the highest annual total since 2014. Most buyback demands stemmed from record MBS issuance by the two GSEs over the past two years.

Some delinquent loans have been removed from MBS trusts before completing their modification trial periods.

In the first nine months of 2021, GSE sellers have repurchased $2.1 billion of defective loans from Fannie Mae and Freddie Mac, more than in any year since 2014. Soaring new MBS issuance is the reason.

The landslide of new single-family MBS issuance since the pandemic started is yielding a predictable side effect: rising buyback demands from the GSEs. (Includes two data charts.)

After spiking in the third and fourth quarters of 2020, GSE repurchases of delinquent loans from MBS pools fell sharply in early 2021. (Includes data chart.)

Fannie released a table listing 1,221 pools that were impacted by a servicer reporting error.

Most of Freddie's repurchase activity in the second quarter involved loans securitized in 2020, but 2019 business still accounted for most of Fannie's activity. (Includes three data charts.)

The share of current production loans that sellers have to buy back from GSE securities pools remained miniscule, although volume was up in the first quarter. (Includes data chart.)

Freddie Mac continued to report significantly more repurchase activity in the first quarter of 2020 and the pipeline of unresolved claims was up from the end of 2019. (Includes two data charts.)