Only four REITs upped their agency MBS holdings in the third quarter, including New Residential Investment Corp., New York, also a large holder of mortgage servicing rights…
Increased interest volatility and widening spreads challenged REIT MBS investors in the third quarter as both agency and non-agency holdings declined. (Includes data chart.)
The combined mortgage portfolio of Fannie and Freddie increased by $9 billion during the third quarter, largely as a result of a growing securitization pipeline. (Includes data chart.)
The private MI industry wrote $118.2 billion of new insurance during the third quarter, coming within a whisker of matching the all-time high set 16 years ago. (Includes two data charts.)
October was also unusual because the flow of VA loans into Ginnie MBS exceeded the intake of FHA loans. That’s the first month of VA supremacy over FHA since the beginning of 2017 and perhaps in Ginnie’s history.
Issuers last month produced a record $57.6 billion of Ginnie MBS backed by forward mortgages. While the flow of purchase loans rose modestly, the key growth engine was the refinance market. (Includes two data charts.)
Continued growth in the refinance market pushed new agency MBS issuance slightly higher in October, offsetting further softening in the purchase-mortgage business. (Includes two data charts.)
Third quarter production of government-insured loans looks like an all-time record, while the conventional-conforming market saw its biggest output since 2003. (Includes two data charts.)