A relatively small – even microscopic – percentage of loans securitized by Fannie Mae and Freddie Mac in the past three years have been subject to a repurchase demand, according to a new Inside Mortgage Trends analysis.

The outstanding supply of single-family MBS declined 0.7 percent during the first quarter of 2015, according to a new Inside MBS & ABS market analysis. But that didn’t stop commercial banks from continuing to increase their holdings.

Wells Fargo was the top conforming-jumbo lender in the first quarter of 2015, with $3.10 billion in such originations.

Fannie’s repurchase volume fell 45.8 percent from the previous quarter while Freddie’s was down just 1.3 percent.

The slowdown in securitization is partly due to the lag between origination and MBS issuance, but there are other factors not related to timing...

Banks, thrifts and credit unions reported a slight uptick in the amount of unused HELOC commitments compared to the end of last year.

During May Quicken ranked second among all GSE sellers with 68.2 percent of its business going to Fannie Mae.

Servicing profits were generally down in the first quarter as many companies reported negative effects resulting from interest rate volatility.

Compared to a year ago, bank mortgage servicing for others – nearly all of which is connected to MBS – was down 6.1 percent.

Though down from April, it was still significantly higher than at any time in 2014, when production averaged just $77.46 billion per month.