Issuance of MBS backed by expanded-credit mortgages increased by nearly 50% from the fourth quarter to the first quarter of 2024. Annaly more than tripled its volume.
Both the prime jumbo non-agency MBS market and the expanded-credit sector posted sequential increases in issuance in the first quarter. (Includes data tables.)
While the retail channel remained the predominant source for jumbo lending, originations through the channel fell 9.0% from the second to the third quarter. Correspondents and brokers gained share. (Includes data table.)
Lenders originating ARMs weren’t able to buck the broader trend of declining originations in the fourth quarter of 2022. Still, on an annual basis, the ARM share nearly doubled in 2022 thanks to rising interest rates. (Includes data chart.)
Holdings of first-lien mortgages at banks and thrifts increased by nearly 10% in 2022. First Republic Bank stood out with a nearly 30% increase. (Includes data chart.)