Portfolio restructuring by the Federal Reserve accounted for about a third of new Fannie and Freddie Supers issuance in the second quarter, but volume is slowing down. (Includes two data tables.)
Securitization of non-agency mortgages for apartment buildings and hotels saw significant volume increases in the second quarter, while industrial and retail remained strong. However, agency multifamily MBS issuance fell. (Includes two data tables.)
JPMorgan Chase reported a hefty gain in mortgage-banking income during the second quarter, but most banks saw declines as gain-on-sale margins declined. (Includes data table.)
Deliveries of rate-term refinance loans to the agency MBS market rose sharply in July as a growing share of the market has coupons over 6%. Purchase-loan volume was up 8% at Ginnie, while the GSEs saw a 3% decline. (Includes two data tables.)
A rising tide of purchase mortgage lending floated a lot of boats in the second quarter, and expanded the market share for private MIs. (Includes four data tables.)
Reset and refinance transactions accounted for half of the CLO issued in the second quarter, with volume more than doubling compared with the first three months of 2024. (Includes data tables.)