Legal Seminar, Chicago, IL

MARKET SIZE OVERVIEW OVERVIEW

As of April 2019, debt in the private-label securitization market totaled $406 billion and was split among prime (17.7 percent), Alt-A (34.3 percent), and subprime (48.0 percent) loans. In May 2019, outstanding securities in the agency market totaled $6.7 trillion, 42.8 percent of which was Fannie Mae, 27.6 percent Freddie Mac, and 29.6 percent Ginnie Mae. Ginnie Mae has had more outstanding securities than Freddie Mac since May 2016.

Private-Label Securities by Product Type

Prime

Alt-A

Subprime

($ trillions)

1

0.8

0.6

0.4

0.07 0.14 0.20

0.2

0

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

April 2019

Sources : CoreLogic, Black Knight and Urban Institute.

Agency Mortgage-Backed Securities

Fannie Mae

Freddie Mac

Ginnie Mae

Total

($ trillions)

8

7

6.7

6

5

4

3

2.9 1.9 2.0

2

1

0

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

May 2019

Sources : eMBS and Urban Institute.

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