Non-agency MBS issuance was up in the third quarter thanks to strong gains in prime and expanded-credit MBS. Home equity and short-term business-purpose loan deals also gained momentum. (Includes three data tables.)

It’s no surprise that Ginnie, and nonbank servicers, saw the biggest gains in the agency MSR market in the third quarter. Freedom Mortgage made noise growing its portfolio by nearly 20%. (Includes two data tables.)

Residential MBS production was up 11.9% from the second quarter, hitting $341.43 billion, a two-year high.

Issuance of single-family agency MBS increased by 13.1% from the second quarter, hitting its highest level in two years.

Issuance of residential MBS was up 11.9% in the third quarter, thanks to a decline in interest rates that sparked increased refinance activity and bolstered purchase-mortgage lending. (Includes three data tables.)

The agency market may need continued growth in refinance lending to sustain the third quarter’s increase in single-family business. Fueled by surging refi volume, Ginnie grew its share of agency MBS issuance. (Includes two data tables.)

Fitch Ratings remained the top player for rating non-agency MBS in the second quarter of 2024 but the firm lost some market share.

Rated ABS issuance was relatively flat in the second quarter. In the non-agency MBS market, rated production was buoyed by the surging home-equity sector. (Includes two data tables.)

Ginnie Mae posted a 1.8% increase to finish the second quarter with $2.445 trillion in single-family MBS outstanding.

Rocket, UWM and loanDepot ranked first through third, respectively, in GSE buybacks during the first half of 2024.