Mr. Cooper Group, the largest nonbank GSE servicer and second-largest GSE servicer overall, increased its portfolio by 8.6% during the first quarter.

The first-quarter slump was largely confined to bulk sales of Fannie and Freddie mortgage servicing rights.

The share of mortgages with primary MI increased by 2.1% in the first quarter, based on agency MBS issuance.

Securitization of closed-end second liens more than doubled in the first quarter of 2024 compared with the previous quarter.

Non-agency MBS issuance totaled $16.90 billion in the first quarter, up 66.9% from the fourth quarter.

Refi volume delivered to Ginnie spiked in the first quarter while purchase-mortgage activity declined.

The volume of conforming jumbos included in Fannie Mae and Freddie Mac MBS increased by 8.0% to $6.05 billion in the first quarter.

Among Mr. Cooper’s other top executives, Vice Chairman and former President Christopher Marshall was paid $8.6 million in 2023.

At the end of March, some 11.1% of agency single-family servicing had coupons over 6.0%, up from just 3.1% a year ago.

Larger lenders remain the most affected by the decline in sales.