Bank of America overtook Chase and Wells Fargo as the top originator of adjustable-rate mortgages in the first quarter of 2019. The ARM share of total originations also increased slightly.

A number of lenders announced improvements to their investment-property mortgage programs. Verus simplified its offerings, Velocity launched a new product and Civic entered the correspondent channel.

Fix-and-flip loans are offering attractive returns to some non-agency players even as others are reducing their exposure to the market, citing concerns about slowing home-price appreciation.

The correspondent share of jumbo originations declined in the first quarter of 2019 after reaching relatively high levels in the second half of 2018. The retail channel remained the main source of production while brokers gained  market share.

Maxex recently completed a round of funding, taking the amount of capital it has raised since 2012 to more than $90 million. The company connects buyers and sellers of jumbo mortgages.

The trade group is urging the CFPB to allow jumbos to receive qualified mortgage status even if the loans have debt-to-income ratios greater than 43%. The pending expiration of the QM patch has also prompted a back-and-forth among think tanks.

FHFA Director Mark Calabria plans to take steps to help non-agency market players better compete with the government-sponsored enterprises. However, lowering conforming loan limits isn’t part of the plan.

Expanded-credit mortgage originations declined for the second consecutive quarter at the end of March. Demand from borrowers was down but lenders remain optimistic about the sector.

Originations of non-agency jumbo mortgages declined by 1.5% in the first quarter though the sector gained some market share as total first-lien originations fell by an even greater amount.