The big servicers got a little bigger and Chase overtook Wells as the largest GSE servicer in the first quarter.

Since quantitative tightening began in June 2022, the Fed hasn't come close to the $35 billion monthly cap on its MBS runoff.

Profits increased at Fannie Mae and Freddie Mac in the first quarter of 2023 despite a historic decline in volume. (Includes data chart.)

In no month since quantitative tightening began last June has the FOMC approached the $35 billion monthly cap on its planned MBS reduction. The latest action by the Fed won’t change that.

With volumes at lows not seen since before the Great Financial Crisis, Fannie and Freddie continue to turn in steady profits.

Disagreements about the Federal Housing Finance Agency’s new pricing grids for Fannie Mae and Freddie Mac highlight differences between Democrats and Republicans.

Freddie's profitability remains a tale of loan loss reserves, with net income rising and falling according to the size of the provision for losses.

Fannie's secret sauce in 1Q: dramatically lower provisions for credit losses...

Newly introduced legislation, if passed, would rescind FHFA's latest revisions to GSE pricing.

Chase Home Finance dethroned Wells Fargo as the largest GSE servicer and the big servicers — both banks and nonbanks — expanded their market share in the first quarter of 2023. (Includes two data charts.)