Mortgage originations declined by 11% in the first quarter at First Republic while Redwood increased its lock volume by 21% from the fourth quarter.

PR Mortgage Investment is set to issue its first jumbo MBS and Bayview Asset Management revised its strategy for the sector.

Issuance of non-agency MBS increased by 84% on a sequential basis in the first quarter of 2021. Chase accounted for nearly a third of all issuance. (Includes data chart.)

The retail channel accounted for nearly 90% of jumbo mortgage originations last year. The channel gained share from both correspondents and brokers. (Includes data chart.)

Some lenders are originating jumbos under new QM standards that don’t require them to meet Appendix Q of the ATR rule.

Six prime non-agency MBS with newer loans have hit the market along with two expanded-credit deals with older mortgages.

Refinances account for 83.1% of the collateral. The average interest rate is 3.00%, the average credit score 780...

Issuers of non-agency MBS brought four jumbo deals to the market this week. Some shops closed securitizations with esoteric collateral.

Jumbo lending increased a scant 2% in the fourth quarter and held steady on an annual basis in 2020. The sector lost a significant amount of market share as agency refi business boomed. (Includes data chart.)

The volume of jumbo servicing handled by 30 of the top firms in the sector declined by nearly 6% in 2020. The share of borrowers missing payments is increasing. (Includes data chart.)