Originations of non-agency jumbo mortgages declined by 6.4% during the third quarter of 2025. (Includes data table.)

The volume of jumbo mortgages that 30 major servicers handle declined by 0.6% during the third quarter of 2025. (Includes data table.)

The volume of conforming jumbo mortgages in the first nine months of 2025 fell by 17.2% compared to 2024. (Includes data table.)

The correspondent channel gained market share from both the retail and broker channels in the first half of 2025. (Includes data table.)

Retail lending among lenders in the analysis declined sharply during the first quarter while the correspondent and broker channels posted more modest declines in nonconforming production. (Includes two data tables.)

ARMs accounted for 12.1% of total residential mortgage originations in the first quarter of 2025, down more than a full percentage point compared with the previous quarter. Still, production of the loans was up from the first quarter of 2024. (Includes data table.)

Short-term mortgages track residential transition loans and fix-and-flip loans. Last year, originations were up 34.6% compared with 2023. (Includes data table.)

The denial rate on applications for jumbo refinances dropped to 22.2% in 2024 from 25.4% in the year earlier, while only 10.3% of jumbo purchase-mortgage applications were turned down. (Includes data table.)

Correspondent sales of jumbo mortgages originated in 2024 increased by more than 60% on an annual basis. The largest sellers were almost all nonbanks, though Chase cracked the top 5 with its deliveries into non-agency MBS. (Includes data table.)

Federal agencies have used the higher-priced mortgage designation as a proxy for subprime lending. Strategies vary among the biggest originators of higher-priced mortgages, including focusing on loans for manufactured homes or expanded-credit mortgages. (Includes two data tables.)