In the fourth quarter of 2024, correspondent aggregators regained FHA/VA market share previously lost to wholesale-brokers.

FHA activity fell 16.8% while VA production was down 15.1% from January.

The Ginnie Mae market continued to retreat in February. Most securitizers lost volume and PennyMac retained its top spot despite a 29.4% decline in issuance volume. (Includes two data tables.)

The top five VA lenders in 2024: Veterans United Home Loans, UWM, Rocket, Freedom and Navy Federal.

Refinance mortgages, especially streamlined refis, came roaring back, lifting 2024 VA lending volume by a sharp 28.5%. FHA volume is estimated to have risen 14.3%. (Includes two data tables.)

Mortgage firms issued $38.0 billion of Ginnie Mae MBS in January, the weakest showing since June of last year.

The refi boomlet lost steam after peaking in November. PennyMac overtook Freedom Mortgage at the top of the issuer ranking in January. (Includes two data tables.)

Retail lending gained share from the correspondent channel in the fourth quarter.

The retail channel gained market share in agency deliveries as refinance deliveries increased sharply during the fourth quarter of 2024. Underwriting standards tightened and loan sizes rose. (Includes two data tables.)

FHA servicing volume increased by 2.5% on a quarterly basis, hitting $1.39 trillion at the end of the fourth quarter of 2024.