Fannie Mae and Freddie Mac acquired $2.83 billion of reinsurance coverage through the first six months of the year, down 29.9% from the same period in 2018.
The volume of broker-originated FHA and VA refinance loans pooled in new Ginnie MBS jumped 94.1% from the first to the second quarter. Correspondent production saw the smallest gains among the three channels.
Purchase loans still accounted for over two-thirds of Ginnie loan deliveries, but the volume of incoming refinance loans had a slightly higher increase from June.
Jumbo lending increased by 67.2% from the first quarter of 2019 to the second, faster than any other product category. Expanded-credit lending had the slowest growth rate.
A group of 15 top mortgage REITs increased its agency MBS portfolio by $20.9 billion during the second quarter of 2019, although non-agency MBS investment slipped modestly.
New issuance of credit-risk debt notes by the GSEs fell 25.5% sequentially in the second quarter, but surging MBS production in recent months will likely spur increased CRT activity in the second half of the year.