Prime MBS issuance was up 15% from the third to the fourth quarter, while ECM production faded 15%. The sole growth market in 2023 was home-equity loan securitization. (Includes three data tables.)
Ginnie Mae remained the fastest-growing sector of the agency servicing market in the fourth quarter, while Fannie Mae posted a small decline. (Includes two data tables.)
The ABS market was the only sector in structured finance to boost production in 2023, although issuance slipped in the fourth quarter. Residential MBS accounted for most of last year’s steep decline.
Guidance from on-high helped push lender buybacks of GSE loans sharply lower in the third quarter, particularly at Freddie. (Includes three data tables.)