Most top Ginnie MBS issuers posted big gains in July, but the government-insured market has generally lost market share to conventional-conforming lending. (Includes two data charts.)

July pushed year-to-date issuance to a stunning $1.512 trillion. The market is on track to top $2.5 trillion by the time 2020 is over, which would smash the current annual record of $2.130 trillion set in 2003.

Freddie celebrated its 50th anniversary in July with a historic $107 billion in single-family MBS issuance. Purchase-mortgage business was up at all three agencies. (Includes two data charts.)

The primary market tilted more heavily to conventional-conforming production in the second quarter as lenders rode soaring consumer demand and hefty profit margins to sell loans to Fannie Mae and Freddie Mac. (Includes two data charts.)

It was the biggest quarterly output for the sector since 2003 and represented 68.2% of the total $865 billion of first-lien originations in the second quarter.

The nation's second largest home lender, Wells Fargo reported a 34.3% decline in residential mortgage banking income...

While the refinance market continued to go bonkers, agency securitization of purchase loans showed a bigger relative gain from June.

The Ginnie Mae market was hit particularly hard, with bulk transfers crashing 81.0% to just $11.63 billion.

Fannie Mae saw bigger gains in both refinance and purchase mortgages during the first half of 2020. (Includes two data charts.)

Most of the major bulk buyers of agency servicing rights moved to the side-lines in the second quarter of 2020, and more mid-sized lenders opted to hold MSR rather than sell through coissuance arrangements. (Includes three data charts.)