The worst of all time (WOAT) was 2007, from which sellers repurchased 7.40% of GSE issuance.

Seller repurchases from Fannie/Freddie MBS continued to climb in the third quarter, although the pipeline of unresolved claims declined a bit. A third-party study shows the critical-defect rate was down slightly in early 2022 as lenders grapple with a challenging market. (Includes three data charts.)

For many homeowners, their current mortgage rate is too valuable (low) to give up...

Commercial banks and the Federal Reserve pulled back from the MBS market in the third quarter, but the supply of outstanding securities continued to grow. Money-market funds and other investors appear to be picking up some of the slack. (Includes two data charts.)

The sharp slowdown in issuance of uniform MBS and Ginnie pass-throughs during the third quarter led to a parallel decline in second-level securitizations. (Includes two data charts.)

Securitization, including agency and non-agency MBS, accounted for 69.4% of the home mortgage market.

Agency MBS still accounted for the biggest chunk of outstanding home loans, and it's all virtually immune to refinancing. Retained whole-loan portfolios were the fastest-growing sector in the third quarter. (Includes three data charts.)

The top three ECM originators through the first nine months of 2022: Citibank, Angel Oak Lending and Guaranteed Rate...

Yes, expanded-credit mortgage originations fell sharply in the third quarter as nonbank lenders faced parched conditions in the MBS market. But ECM is the only mortgage sector where 2022 volume is running ahead of last year's pace. (Includes data chart.)

Purchase-money mortgages accounted for 79.3% of November issuance...