Trade groups representing lenders are urging regulators to maintain the link between QMs and loans exempt from mandatory risk retention.

Jumbo correspondent lending continued to make its comeback in the first quarter of 2021 after a sharp drop in volume tied to the coronavirus. Trends were mixed among lenders that focus on the retail channel. (Includes data chart.)

Chase issued its fifth large prime non-agency MBS of the year, along with a number of more traditionally sized deals. United Wholesale Mortgage is also set to issue its first deal.

The top three servicers of non-agency MBS issued during the first quarter of 2021 handled nearly 70% of the market. Shellpoint, the top-ranked firm, alone had a 41% share.

Jumbos accounted for 9.2% of total first-lien originations in the first quarter of 2021, a slight improvement from 4Q20, but nowhere close to pre-pandemic levels. (Includes data chart.)

A reduction in GSE refi business along with regulatory changes are expected to prompt an increase in originations of non-agency mortgages. The bulk of the increase could come from prime loans.

Some 15.5% of applications for jumbo mortgages in 2020 were denied by lenders. Among individual funders, denial rates ranged from a low of 1% to north of 50%. (Includes data chart.)

A flurry of non-agency MBS hit the market; the number of non-agency mortgages in forbearance increases; SFA raises concerns about CFPB’s proposal to establish a partial foreclosure moratorium; SFA to set up data tape task force; Sachem Capital generates $2.2 million of net income in 1Q21; new industry hires.

At least until October 2022, jumbo lenders can use either the long-standing qualified mortgage standards or the new, more flexible standards.

Guaranteed Rate sold $5.55 billion of jumbo mortgages to unaffiliated buyers in 2020, nearly three times the volume of second-ranked Quicken Loans. (Includes two data charts.)