The flow of rural housing loans into Ginnie Mae securities saw a significant spike in the third quarter of 2016, thanks to increased market activity. Approximately $13.7 billion in USDA loans were delivered into Ginnie Mae single-family pools over a nine-month period, punctuated by a 32.1 percent surge in volume in the third quarter. Production was up a mere 1.2 percent year over year. Top USDA issuer Chase Home Finance accounted for $3.4 billion of securitized rural housing loans while in distant second place, PennyMac closed the quarter with $1.4 billion. Wells Fargo ($951.3 million), Freedom Mortgage ($876.6 million), and Pacific Union ($394.4 million), in sequential order, comprised the rest of the top five USDA issuers. Freedom Mortgage saw its volume increase tenfold both on a quarter-to-quarter and year-over-year ... [Chart]