The three agencies reported a total of 1.2 million single-family loans one payment past due, or 3.03% of their combined portfolio. Ginnie’s 4.78% 30-day delinquency rate was the highest, including a 5.68% rate for FHA loans.

Ginnie MBS issuance in May was off just a whisker from April’s record, but the full impact of the recession on housing sales is yet to come. (Includes two data charts.)

Several REITs have not yet reported first-quarter financials, so the sector’s sell-off may have been somewhat larger.

Commercial banks, mutual funds and other investor groups scooped up the massive deleveraging of MBS by REITs at the end of the first quarter. Since then, the Federal Reserve has added $408 billion to its agency MBS holdings. (Includes two data charts.)

The deluge of refinance business so far in 2020 has overshadowed a sturdy purchase-mortgage market. But softening housing-market trends suggest a rougher road ahead. (Includes data chart.)

While overall agency delinquency rates remained significantly elevated, the number of new loans entering the 30-day late category fell sharply from April to May.

The flow of first-time buyer loans was up 20.0% from the first five months of 2019...

Correspondent production of conventional-conforming loans fell 17.3% on a quarterly basis, reducing the channel’s share to 36.7%, the lowest reading in the past five years.

While total GSE MBS issuance rose 10.3% from April to May, many of the top sellers recorded declines in monthly loan sales. But scores of lower-tier sellers more than made up the difference. (Includes two data charts.)

While overall production volume was down in all three major product groups, the wholesale-broker channel saw increased originations of conventional-conforming and government-insured loans. (Includes two data charts.)