An estimated $400 billion of mortgages were originated in the second quarter.

Total ABS issuance in the first half of 2023 was running slightly below the level of a year ago, but the key markets — vehicle and business finance — were both up as of the end of June. (Includes two data charts.)

Most top lenders reported substantial increases in first-lien originations during the second quarter. But the rebound in production doesn't appear to have lifted mortgage banking income much. (Includes two data charts.)

When in doubt, sell MSRs: UWM transferred $66.1 billion of product in 2Q23...

Bright spots: Issuance of non-agency securities classified as Alt A...

Ginnie Mae's single-family outstanding was up 2.2% in the second quarter while the GSEs posted a 0.3% increase in servicing compared with the end of March..

A handful of mergers accounted for a significant share of the huge flow of agency MSR to new owners during the second quarter. Sales by nonbanks looking to prop up earnings were a major factor. (Includes three data charts.)

After a brief rebound in the first quarter, issuance of non-agency MBS declined in the most recent three-month period despite a tiny increase in prime deals.

The agency single-family servicing market grew more rapidly in the second quarter of 2023, with nonbanks racking up most of the gains. Ginnie remained the fastest-growing sector.

All major sectors posted gains in securitization activity...