Jumbo originations increased across channels in the first half of 2019. The correspondent channel lost a little bit of market share while retail remained the dominant source of jumbo production.
Originations of non-agency jumbo mortgages increased in the second quarter, spurred by low interest rates. The sector gained market share and some lenders said pipelines were strong heading into 3Q19.
Quicken increased its contributions to prime non-agency MBS this year, including $619 million of loans going into deals issued in the second quarter. Characteristics of the deals were largely unchanged.
Issuance of prime non-agency MBS declined in the second quarter on a sequential basis, led by a drop in the volume of GSE-eligible loans going into the non-agency market. Only a handful of issuers were active in the second quarter.
Banks and thrifts continued to increase their first-lien holdings in the first quarter, but the rate of portfolio growth is slowing. Portfolios at Wells and Chase declined in the first quarter while BofA boosted its holdings.
Banks and thrifts increased their holdings of first-lien residential mortgages in 2018, according to a new analysis by Inside Nonconforming Markets. [Includes one data chart.]
The correspondent channel expanded its share of jumbo originations in 2018, according to an Inside Nonconforming Markets analysis of survey responses to affiliated Inside Mortgage Finance. [Includes one data chart.]
After years of being prohibited by regulators from acquiring servicing rights, Ocwen Financial is back in business as a buyer in full force. [Includes one data chart]
The amount of jumbo mortgage servicing handled by the top servicers increased at a much faster rate in 2018 than the total amount of outstanding residential mortgages, according to a new ranking and analysis by Inside Nonconforming Markets. [Includes one data chart]
Originations of expanded-credit mortgages increased 20.2% in 2018 and market share for the sector also grew, according to a new ranking and analysis by Inside Nonconforming Markets. [Includes one data chart]
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