Although securitizations have risen for three consecutive months at Fannie Mae, issuance at its two agency counterparts fell to the lowest levels in at least nine months — pulling down overall activity.

Issuance of fixed-rate mortgage-backed securities on behalf of Fannie, Freddie Mac and Ginnie Mae came to $100.114 billion during the first month of this year.

Volume declined from December 2017, when issuance totaled $107.220 billion. The drop was even more steep versus the $131.706 billion issued in January 2017.

Source: Mortgage Daily