Fannie and Freddie securitized $556.2 billion of single-family loans that were aged three months or less when the MBS was issued, a whopping 81.0% increase from the prior quarter.
Payoff removals fell 0.4% from July to August, and by 2.8% for FHA loans. The VA program, which sees much heavier refinance activity, recorded a 1.9% increase in payoff removals, edging up to its highest level of the year.
The volume of Ginnie single-family MBS outstanding peaked in June and retreated slightly in July and August. The slippage has been in FHA loans. (Includes two data charts.)
The number of loans in Ginnie MBS that had COVID forbearance fell 6% from July to August, although a growing share of the loans fell into the seriously delinquent category. (Includes two data charts.)
Despite plunging volume in rated MBS and ABS during the second quarter, some ratings services managed to increase market share. (Includes two data charts.)
Fannie and Freddie recorded a huge increase in single-family MBS during the second quarter, capturing a huge share of the growing conventional-conforming loan market. (Includes data chart.)
Fannie and Freddie accounted for most of the growth in the supply of single-family mortgage debt outstanding, offsetting declines in the Ginnie and non-agency sectors. (Includes two data charts.)
The April-June cycle marked the first time since the end of 2016 that bank retail lending exceeded wholesale production. Then again, in the call-report world, wholesale includes both loan purchases through correspondent operations and originations involving mortgage brokers.