The FHA/VA market was more subdued, with total conforming-jumbo loans pooled in Ginnie MBS rising 16.7%. The VA program accounted for 83.0% of government-insured jumbo volume, with quarterly securitization up 17.7%.

The decline in first-time buyer share was due in part to a failure of the government-insured sector to keep pace with the conventional market.

More liquid is better than less liquid, especially during a refi bonanza...

The proposal is modeled after the FHA's partial claims program, though there are differences...

Nearly 30% of borrowers with loans in the deal have received forbearance or a deferral. The servicer, Citadel, will not make advances on delinquent payments.

Among the top five agency MBS issuers for the 30-day period, just one was a depository: Wells Fargo at number three.

MBA's Marina Walsh: “Soaring production revenues – led by strong secondary marketing gains – drove these results and more than offset an increase in production expenses.” 

Quicken Loans is the top contributor to the new Morgan MBS, accounting for 36.3% of the collateral.

Ginnie Mae single-family MBS issuance fell slightly from October but remained at near record levels. All told, the three agencies pumped out nearly $355 billion last month, a 5% gain from October.

The FHFA's capital requirements for the GSEs don't exactly favor CRT transactions but the Biden administration is expected to encourage the deals.