Purchase-money mortgages accounted for 82.5% of agency MBS issuance during August, though the refinance share is growing.

Securitization of FHA loans increased 6.3% to $22.09 billion in July, while VA production was up 11.4% to $15.44 billion.

Ginnie MBS issuance increased by 8.3% on a monthly basis in July while GSE volume declined somewhat.

Some $63.39 billion of MSR on Ginnie MBS were transferred in the second quarter of 2024, up from $24.22 billion in the prior period.

Halfway through 2024, Lakeview/Bayview Loan Servicing was the leader in removals from Ginnie MBS, with $11.33 billion.

Issuance of Ginnie Mae mortgage-backed securities rose 19.2% in the second quarter.

The proposal aims to address issues similar to those that led to the failure of Reverse Mortgage Funding.

Prepayment rates are expected to be higher than in previous refinance cycles because lenders have bumped up spending on technology to improve recapture rates and loan originators are eagerly anticipating increasing their volume.

Servicers face more onerous advance requirements for delinquent loans in Ginnie MBS compared with loans in GSE MBS.

Lenders delivered $27.21 billion of purchase loans into Ginnie MBS in May, up 7.5% from the prior month.