Thanks to heavy consumer refi demand, the support of the Fed and muscular production by nonbanks, the agency single-family market pushed overall MBS/ABS issuance to record levels in 2020. (Includes three data charts.)
Fannie and Freddie led the surge to a record $3.15 trillion of agency MBS issuance in 2020. The agency market saw huge shifts in seller demographics. (Includes two data charts.)
Volume was up more in correspondent and wholesale-broker platforms, but retail continued to account for just over half of government-insured lending in the third quarter.
Correspondents increased their share in the conventional-conforming and government markets, as did wholesale-broker platforms. But TPO production was nearly shut out of the jumbo market. (Includes two data charts.)
Retail originations by banks' mortgage banking operations rose to the highest level in seven years but they understate total lending by the industry. (Includes two data charts.)