Most of the increase in Freddie buybacks in the first quarter of this year came from loans that were securitized in 2023, which totaled $219.1 million and represented 65.8% of Freddie repurchases in early 2024.
After a sharp drop in the fourth quarter, seller repurchases of Freddie loans rose substantially in early 2024. Fannie, however, reported a decline in seller buybacks. (Includes three data tables.)
Most REITs reported declines in the fair value of their agency MBS during the first quarter of 2024. Non-agency MBS holdings were up, as were net TBA positions. (Includes two data tables.)
The top three bank ABS investors reported a combined 12% decline in their holdings during the first quarter. But ABS investment was up at PNC Bank, Capital One and Radius Bank. (Includes two data tables.)
Although Fannie saw a 20% decline in Supers MBS issuance in the first quarter, Fed data show a substantial increase in the central bank’s “aggregated” holdings of Fannie securities. (Includes two data tables.)
A handful of heavy hitters in the nonbank mortgage world recovered from significant losses in the fourth quarter with solid profits in early 2024. GOS margins were mostly up, along with production volume. (Includes data table.)