Thursday, June 20, 2024 1:02:39 PM
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- Thursday June 20, 2024 - nbhatia@imfpubs.com
Fannie Mae and Freddie Mac issued $55.41 billion of single-family mortgage-backed securities in May, according to a new Inside The GSEs ranking and analysis. That was up 7.9% from April but issuance in the first five months of the year was off 0.7% from the same period last year.
Freddie saw the bigger monthly increase in MBS output, up 9.4% from April. Business was up 6.3% at Fannie.
PennyMac overtook United Wholesale Mortgage and Rocket Mortgage to become the top GSE seller last month, with $5.75 billion in volume. PennyMac drastically increased its GSE business in May as its Fannie sales increased 66.6% and Freddie volume grew 46.8%.
Meanwhile, combined, the GSEs accounted for 53.8% of total residential MBS issued during the first quarter of 2024. That’s well below the share the GSEs have commanded of the residential MBS market in recent years.
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