At the end of March, some 11.1% of agency single-family servicing had coupons over 6.0%, up from just 3.1% a year ago.

Issuance of non-agency MBS rose strongly in the first quarter, with hefty gains in prime, ECM and NPL/RPL production. While the market was well ahead of its year-ago pace, there’s still some catching up to do with 2021 and 2022. (Includes three data tables.)

Ginnie Mae continued growing its forward-mortgage servicing portfolio during the first quarter, leading to a rising share of high-coupon mortgages. Meanwhile, the GSE servicing market contracted slightly. (Includes two data tables.)

Agency securitization of purchase loans looks to have turned a corner in March, with volume rising 13.5% from February.

Purchase-mortgage volume at Ginnie Mae increased by 13.9% on an annual basis in the first quarter of 2024.

The agency single-family MBS market is the main driver of structured finance issuance, but it recorded a decline in first-quarter production while ABS, commercial MBS and non-agency RMBS posted gains. (Includes three data tables.)

The refinance market is showing signs of life — especially in the government-insured sector — and total agency MBS issuance in the first quarter was up from a year ago. (Includes two data tables.)

Earnings from both originations and servicing took another hit in the fourth quarter of 2023.

The industry’s aggregate trading-account portfolio, which is measured in fair value, has been growing since the start of 2022.

Most lender buybacks are linked to mortgage-backed securities issued within the past two years.