Wells was largely done with purchasing jumbo loans through the correspondent channel by the end of the first quarter of 2023.

Earnings from both originations and servicing took another hit in the fourth quarter of 2023.

The industry’s aggregate trading-account portfolio, which is measured in fair value, has been growing since the start of 2022.

Retail properties accounted for 68.5% of total losses...

Most lender buybacks are linked to mortgage-backed securities issued within the past two years.

Closed-end second liens accounted for an estimated 19% of home equity production in 2023, up from a 13% share in 2022.

Most major investor categories increased their holdings of MBS during the fourth quarter, while the Fed continues to let its holdings slowly run off.

The increase was driven by refinances, particularly VA refis.

ARMs accounted for 14.3% of total originations last year, up from a 13.8% share in 2022.

MBA said lenders were unable to "sufficiently adjust resources to align with fluctuating rates and volumes"...