Sales of FHA and VA loans into Ginnie MBS, both purchase mortgages and refinances, fell in August. But some issuers gained share in an ebbing market. (Includes two data charts.)

It doesn’t happen often, but Freddie ranked as the top agency MBS issuer last month...

Freddie topped Fannie in single-family MBS issuance for the first time since late 2005 as a heavy flow of refinance business boosted the agency market in August. (Includes two data charts.)

Data from agency MBS issued in the second quarter suggest that first-time buyers accounted for just over half of the purchase loans sold to Fannie Mae, Freddie Mac and Ginnie Mae during that period.

Purchase-mortgage lending soared to a record $515 billion during the second quarter of 2021, buoyed by first-time buyers. Refi lending was down but still accounted for 58% of the market. (Includes five data charts.)

However, year-to-date mortgage banking income was up 46.0% from the first six months of 2020.

And while repurchase activity still represents a small portion of Fannie and Freddie business, 2021 is shaping up as the biggest year for seller buybacks since 2014.

Lenders reported measurable declines in income from originations and secondary market as production volume fell and per-loan costs rose. MSR valuations hit servicing hard. (Includes data chart.)

Bank call-report data show a huge drop in mortgage banking income from the first to the second quarter, but several top banks reported big gains. (Includes data chart.)

Most of the gain came from three top institutions and in one specific category: ABS backed by consumer loans...