The jumbo mortgage market generally kept pace with the robust growth in first-lien originations last year, but the agency component clearly did better than the non-agency side, according to a newInside Mortgage Finance ranking and analysis. An estimated $534.57 billion of single-family mortgages with loan balances exceeding $417,000 were produced last year, an increase of 20.0 percent from 2015. That was in line with the 19.0 percent growth in total first-lien production in 2016. But the agency jumbo market – loans in high-cost markets eligible for securitization by Fannie Mae, Freddie Mac and Ginnie Mae – was...[Includes three data tables]
According to one advisor: “I do think a thaw is on, but if you threw it on the grill, it would still be pretty tough because it’s not fully defrosted.”
The agency share of total jumbo production reached its highest level in 2009 and 2010, immediately after “emergency” high-cost loan limits were put in place…