Freedom Mortgage remained the top Ginnie MBS issuer in the first quarter, though third-ranked Quicken Loans posted a mighty 47% gain from the prior period. Some 57% of loans securitized by Ginnie had VA guarantees. (Includes four data charts.)
Slumping purchase-mortgage business in the agency MBS market was a big factor in the 6% downturn in total MBS-ABS-CMBS issuance in the first quarter of 2021. Agency business rebounded in March, however.
The first quarter of 2021 still ranks second in total agency MBS production despite a sharp decline in purchase-mortgage volume. Several top sellers boosted agency volume in early 2021. (Includes two data charts.)
Slumping purchase-mortgage business drove Fannie/Freddie MBS volume lower in the first quarter, but securitization of refinance loans remained robust. (Includes two data charts.)
When Fannie/Freddie business volume trends lower, the risk profile generally skews higher. And that’s exactly what happened in the first quarter of 2021. (Includes two data charts.)