Wells Fargo was the largest Fannie/Freddie servicer at yearend with $791.0 billion, followed by Chase Home Finance ($429.1 billion) and Bank of America ($260.4 billion).

The top five lenders in the industry accounted for 33.8 percent of total production last year, down from a combined 40.8 percent market share back in 2013.

ABS issuance was up 12.0 percent from the prior year, with solid gains in three of the market’s key sectors: auto finance, credit cards and business loans.

Still, the four super-sized U.S. banks – those with more than $1 trillion in assets – continue to rank in the top five GSE sellers.

Meanwhile, Fannie Mae and Freddie Mac continued to get less of their business from their five biggest customers.

Two of the four, Chase and BofA, reported increased originations during the fourth quarter. At Chase, production was up 8.5 percent...

Securitization of nonperforming and re-performing mortgages accounted for just over half of total non-agency MBS production in 2014.

The biggest decline in MI business during the fourth quarter came in loans refinanced through the Home Affordable Refinance Program.

There was one piece of good news: Freddie Mac managed to boost its share of the GSE market up to 40.6 percent for all of 2014.

It was the strongest refi volume of the year, and it helped offset a 9.8 percent drop in purchase-mortgage securitization over the same period.