Fannie Mae saw the biggest drop in refi volume, a 30.2 percent decline from December…

In many cases, the fourth quarter drop was due to poor performance on servicing hedges.

A fun fact for nonbanks: Depository institutions among the top 50 servicers reduced their holdings by 1.2 percent during the same period.

The largest Fannie/Freddie servicers are still Wells Fargo, JPMorgan and Bank of America, but all three continue to shrink their exposure to GSE product...

Bulk transfers of Freddie Mac MSRs also increased dramatically in 4Q16, more than doubling to $17.52 billion…

Fun fact: Fannie, Freddie and Ginnie accounted for 95.6 percent of multifamily mortgages securitized in 2016…

To be sure, individual lenders were all over the map in their reported production trends. A handful of top producers reported significant increases from the third quarter, including loanDepot, which was up 13.4 percent…

Meanwhile, the supply of Ginnie single-family MBS outstanding continued to set new records…

Santander Consumer USA was the most active issuer of vehicle ABS…

One issue is the tax treatment of compensation that MBS investors receive for converting legacy Freddie participation certificates…