First-lien originations set a new annual record of $4.825 trillion in 2021 despite an 8.4% decline in the fourth quarter. Many top lenders reported significant quarterly declines in production.
Every sector of the ABS market saw substantial increases in new issuance last year. Vehicle finance securitization and business ABS remained the top asset classes, though other markets gained share. (Includes two data charts.)
Private MIs made some gains in the insured purchase-mortgage market in 2021, while the FHA grew its share of insured refinance business. (Includes three data charts.)
Total non-agency MBS issuance rocketed up 82.8% last year. A huge surge in traditional jumbo loans drove a big increase in prime MBS issuance, helped by the GSE-eligible investor-property sector. (Includes three data charts.)
Many of the top nonbank servicers recorded strong increases in their agency servicing rights, through both organic production and bulk MSR purchases in the secondary market. (Includes two data charts.)