Deals backed by seasoned loans still accounted for over half of last year’s non-agency MBS issuance, but securitization of newly originated prime and expanded-credit mortgages more than doubled in 2019.

Fannie Mae, Freddie Mac and Ginnie Mae securitized $819 billion of insured loans in 2019, up 20% from the previous year. Insured agency refi business soared by 120% from 2018.

Total new issuance of securities backed by home loans, commercial mortgages and non-mortgage assets jumped 24% from 2018’s levels to $2.14 trillion last year, the biggest volume since 2007. (Includes three data charts.)