Issuers of expanded-credit MBS stocked deals with $14.10 billion of volume in the first quarter of 2022, a record for the sector. A rise in interest rates helped to increase securitization activity. (Includes three data charts.)

The rejection rate on applications for non-agency jumbo mortgages declined for both purchase mortgages and refis in 2021. One top lender had a denial rate of less than 1.0%. (Includes data chart.)

While non-agency MBS issuance was essentially level in the first quarter of 2022, there was some movement among servicers in the sector. Servicing activity at Cenlar and UWM dropped, while Shellpoint and smaller servicers increased their market share. (Includes data chart.)

Prime non-agency MBS issuance declined by nearly 20% on a sequential basis in the first quarter of 2022. However, loanDepot nearly doubled its activity in the market during that span. (Includes three data charts.)

Investment-property mortgage volume delivered to the GSEs was flat on a sequential basis in the first quarter, second-home volume declined by 8.0% and conforming jumbo business fell 38.5%. (Includes data chart.)

Originations of adjustable-rate mortgages declined by 4.8% from the third to the fourth quarter and by 13.7% for the full year 2021. Bank of America was the top ARM producer. The loans largely remain in portfolio. (Includes data chart.)

Banks and thrifts held $2.23 trillion of first liens at the end of the year, up 1.7% from the end of September. Trends varied considerably among the megabanks. (Includes data chart.)

Firms active in nonprime servicing increased their portfolios by 7.5% on an annual basis in 2021. Servicers also are turning to loan modifications as forbearance plans end. (Includes data chart.)

Nearly every company in a group of 30 prominent servicers of jumbo mortgages increased their respective portfolios during the fourth quarter. Jumbo servicing also increased on an annual basis. (Includes data chart.)

Select Portfolio Servicing added nearly twice as much servicing from just-issued non-agency MBS in the fourth quarter as it did in the third. Shellpoint remains the largest servicer of recently issued non-agency MBS. (Includes data chart.)