An increase in net expenses in the third quarter cut profits at Fannie Mae and Freddie Mac despite an uptick in revenue for the quarter. (Includes data table.)
Nearly 90% of loan liquidations in Ginnie MBS resulted from borrower payoffs in the third quarter, with most of them linked to MBS issued in 2020 and 2021.
Vehicle ABS issuance reached a record $46.5 billion in the third quarter, and that doesn't count rental-fleet financing. But a sharp decline in auto-dealer floorplan securitization led to a slip in business ABS production. (Includes three data tables.)
Mortgage securitization rates remained at previous levels as new primary market production and MBS issuance grew at similar rates in the second quarter. (Includes data chart.)
The GSEs effectively ended commingling of collateral in Supers securitizations last year. Despite a sharp reduction in the commingling fee, there was only a modest rebound in the practice in the second quarter. (Includes two data charts.)
After a brief rebound in the first quarter, issuance of non-agency MBS declined in the most recent three-month period despite a tiny increase in prime deals.
Ginnie Mae MBS issuance finally caught up to sharp declines in primary-market originations, while ECM securitization was buoyed by more-seasoned loans.
The biggest gain was in agency single-family MBS, as several large bank holding companies boosted their trading portfolios by $1 billion or more during the first quarter.
Money-market funds were the most aggressive buyers of MBS during the first quarter, and analysts think demand from the sector will last. (Includes three data charts.)
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