Lenders sold $55.8 billion in loans to the government-sponsored enterprises in August. The GSEs boosted their share in new MBS issuance to 61.2% in the second quarter, but three in 10 conventional-conforming mortgages did not end up in Fannie/Freddie MBS. (Includes two data charts.)
Agency securitizations saw a healthy rebound in 2Q23 after the bleak results of the previous quarter. Retail production of purchase mortgages drove the recovery. Loan quality also improved. (Includes two data charts.)
Lenders produced $4.00 billion in HECMs during the first quarter. Soaring interest rates, a cooling housing market and retreating inflation have all contributed to the 52.2% year-on-year drop in volume. (Includes three data charts.)
An analysis of agency securitizations shows brokers gaining market share as their loan sizes increased faster than other channels. Credit scores improved somewhat but DTI and LTV ratios rose. Refis took a smaller slice of a shrinking pie. (Includes two data charts.)
Loan removals from Ginnie Mae MBS fell to their lowest point in at least four years as payoffs, defaults and loss mitigation all ebbed in the first quarter of 2023. (Includes data chart.)