The structured finance market produced $396.17 billion of new issuance in the third quarter, down 4.5% from the second quarter.

Mortgage lenders delivered $282.16 billion of first-lien home loans into the agency secondary market during the third quarter of 2023, a modest 2.3% increase from the prior period, according to a new ranking and analysis by Inside Mortgage Finance.

Ginnie Mae continued to flex its muscles in the agency single-family MBS market, while non-agency issuance posted a strong third quarter. (Includes three data charts.)

Most of the gain in agency business was at Ginnie Mae as the data show a migration of lower-score borrowers from Fannie and Freddie to the FHA market. (Includes two data charts.)

Among the top 100 lenders, banks accounted for 30.9% of originations in the second quarter, up from a 29.9% share in the first quarter.

Chase increased the agency MBS in its trading accounts by $11.20 billion during the second quarter, boosting its total to $86.52 billion.

GSE-related buybacks increased by 2.3% on a quarterly basis.

Fannie says material defects have been rising for the past few years. In 2Q23, seller buybacks topped $1 billion for the sixth straight quarter. (Includes three data charts.)

Fitch and DBRS weathered the sharp drop in rated non-agency MBS issuance better than their competitors.

Fitch and DBRS weathered the sharp drop in rated non-agency MBS issuance better than their competitors. S&P moved back to the top in ABS ratings at midyear despite losing some ground in the vehicle sector. (Includes two data charts.)