The agency single-family MBS market is the main driver of structured finance issuance, but it recorded a decline in first-quarter production while ABS, commercial MBS and non-agency RMBS posted gains. (Includes three data tables.)
The refinance market is showing signs of life — especially in the government-insured sector — and total agency MBS issuance in the first quarter was up from a year ago. (Includes two data tables.)
As the historic mortgage boom fades into the past, buyback claims from the GSEs have declined. The biggest downturn has been at Freddie. (Includes three data tables.)
With barely any refinance activity, the seasonal housing slowdown showed overcapacity in production platforms that squashed profitability. (Includes data table.)
Bank holding companies reported a solid 5.0% increase in agency MBS held in trading accounts during the fourth quarter. But non-agency MBS and non-mortgage ABS holdings were down. (Includes two data tables.)
Banks, thrifts and credit unions ended the year with $3.551 trillion of unsecuritized home loans on their books, a gain of 0.8% from the third quarter.