Legal Seminar, Chicago, IL

AGENCY NONBANK ORIGINATION SHARE OVERVIEW

The nonbank origination share has been rising steadily for all three agencies since 2013. The Ginnie Mae nonbank share has been consistently higher than the GSEs, remaining at a record high of 86 percent inMay 2019. Freddie and Fannie’s nonbank shares both fell inMay, to 47 and 52 percent respectively (note that these numbers can be volatile on a month-to-month basis.) Ginnie Mae, Fannie Mae and Freddie Mac all have higher nonbank origination shares for refi activity than for purchase activity.

Nonbank Origination Share: All Loans

All

Fannie

Freddie

Ginnie

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

86%

63%

52%

47%

Jul-13

Jul-14

Jul-15

Jul-16

Jul-17

Jul-18

Jan-14

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Sep-13

Sep-14

Sep-15

Sep-16

Sep-17

Sep-18

Nov-13

Nov-14

Nov-15

Nov-16

Nov-17

Nov-18

Mar-13

Mar-14

Mar-15

Mar-16

Mar-17

Mar-18

Mar-19

May-13

May-14

May-15

May-16

May-17

May-18

May-19

Sources : eMBS and Urban Institute .

Nonbank Origination Share: Refi Loans

Nonbank Origination Share: Purchase Loans

All

Fannie

Freddie

Ginnie

All

Fannie

Freddie

Ginnie

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

91%

83%

71% 66%

60% 52% 44%

52%

Jul-13

Jul-18

Jul-13

Jul-18

Jan-16

Jun-16

Jan-16

Sep-17

Jun-16

Apr-17

Oct-14

Feb-13

Feb-18

Sep-17

Apr-17

Oct-14

Feb-13

Feb-18

Dec-13

Dec-18

Aug-15

Dec-13

Dec-18

Aug-15

Nov-16

Mar-15

Nov-16

Mar-15

May-14

May-19

May-14

May-19

Sources : eMBS and Urban Institute.

Sources : eMBS and Urban Institute .

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