The decline was driven by conventional-conforming mortgages and government-insured mortgages. The securitization rate for non-agency mortgages actually jumped in the first quarter. (Includes data table.)
Officials at Ginnie Mae noted that prepayment rates on Ginnie MBS increased at a faster rate than prepayment rates for GSE MBS due to a quirk in interest rates on VA refinances.
In Georgia, investors who hold mortgages set for quick securitization will be exempted from the licensing requirements if they hold the loans for 14 or fewer days.
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