Fannie and Freddie issued a whopping $705.7 billion of single-family MBS during the third quarter, smashing a record that had been on the books for 17 years. (Includes two data charts.)
The shift to lower-risk loans was particularly pronounced in the GSE refinance market, where streamlined property valuation was available for many mortgages. (Includes two data charts.)
California remained the top market for insured mortgage originations in the third quarter, though volume was up 16.6%, compared with a 19.1% increase nationwide. (Includes data chart.)
Production levels surged for agency 1-4-family MBS, non-mortgage ABS and commercial MBS from the second to the third quarter. Nonbanks continued to dominate the agency market. Includes three data charts.)
Refinance demand continued to fuel surging business in the agency market, although Ginnie dropped a little further behind Fannie and Freddie. (Includes two data charts.)
Nonbanks continued to account for over half of mortgage originations in a primary market that soared to $975 billion in the second quarter. (Includes data chart.)
The agencies securitized almost $592 billion of single-family refi loans, a 17.8% increase from 2Q. Refis accounted for 64.7% of the market during the third quarter. However, purchase-mortgage activity increased more in percentage terms...
DBRS saw a relatively small 5.7% decline in MBS ratings from the first to the second quarter, and actually upped its ratings of expanded-credit mortgage MBS...