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.