Among the top 10 FHLB borrowers, only one added to its tally of outstanding advances in the first quarter.

The renewed interest in CRT was especially pronounced at Fannie, as the GSE avoided issuing Connecticut Avenue Securities in the fourth quarter.

Although six companies recorded quarterly increases in mortgage-banking earnings, three industry leaders posted huge declines and another nonbank posted a net loss.

Originations of purchase mortgages increased by 2.7% on an annual basis in the first quarter of 2025.

Higher-priced mortgages accounted for 2.4% of total originations tracked in HMDA in 2024.

Correspondent sales of non-agency jumbo mortgages increased by 62.3% on an annual basis in 2024.

There are concerns about high debt-to-income ratios, high loan-to-value ratios and “iffy” appraised values.

Some $11.98 billion of office-property financing was securitized in the first quarter, more than six times the volume in 4Q24.

Among the top 20 Ginnie issuers in April, just two were federally insured depositories.

Mortgage bankers are hoping for a strong May and June to tide them over.