Nearly all the top bank MBS investors reported gains in the value of their portfolios during the fourth quarter, but values remain well below amortized cost. Ginnie MBS saw the biggest gain. (Includes two data tables.)

Issuance of GSE Supers MBS remained elevated in the fourth quarter, although down significantly from the previous period. Ginnie remains king of the agency REMIC market. (Includes two data tables.)

The FHA gained share in the agency purchase-mortgage market last year, while private MIs continued to do more first-time buyer business. (Includes four data tables.)

Fitch maintained its top ranking in rating both ABS and non-agency MBS deals issued in 2023.

New originations of loans with primary mortgage coverage fell off in the fourth quarter, with private mortgage insurers getting squeezed the most.

Kroll saw a 21.9% increase in non-agency MBS ratings from the third to the fourth quarter, as well as the smallest decline (3.7%) in ABS rating volume. (Includes two data tables.)

Private MIs reported another strong quarter in financial results even though their share of insured first-lien originations slid to its lowest point since 2020. (Includes four data tables.)

Among 27 publicly owned banks, 20 saw income fall in the fourth quarter, and five recorded losses for the period.

Some of Fannie’s lopsided growth may reflect that it took a bigger hit in December...

Declining MSR valuations created problems for bank mortgage operations in the fourth quarter, along with a slowdown in loan originations and sales. (Includes data table.)