Fannie and Freddie issuance of single-family MBS surged 38.4% from the first quarter of 2023 to $172.31 billion...

With sales to the GSEs rising sharply in the second quarter, the share of low-FICO purchase loans fell to a record low — while the share of high-FICO loans hit a record high. (Includes two data charts.)

The vast majority of agency mortgages with primary MI coverage were purchase loans in the second quarter, although the flow of insured refinance business was up a little more. (Includes two data charts.)

In terms of non-agency MBS ratings, it was Fitch, followed by DBRS and Kroll...

Fitch rode the market’s hottest sectors in the first quarter: vehicle-backed ABS and expanded-credit MBS. S&P slipped to second in ABS ratings and fourth in residential MBS. (Includes two data charts.)

Some 66.5% of GSE repurchases in the first quarter involved loans securitized in 2022.

As originations decline, the securitization rate shrinks.

JPMorgan led the pack with $75.3 billion of agency MBS held in its trading account at March 31...

The 2022 book of GSE single-family business has a higher defect rate than earlier cohorts, and sellers are repurchasing loans with interest rates lower than current levels. (Includes three data charts.)

The nonbank share of mortgage originations is moving closer to where it was during the pandemic refi boom.