Fannie posted the biggest increase over April MBS volume, while Freddie lagged behind. Purchase-mortgage business is on track for another annual climb.
Some of the sharp drop in non-agency jumbo securitization resulted from higher loan limits, but volume was buoyed by a large pool of seasoned loans sold to Freddie Mac.
The Golden State's high concentration of broker loans and refinancing is reflected in its top two sellers: United Wholesale Mortgage and Quicken Loans.
Most of the gain in production income occurred at JPMorgan Chase, which reversed an unusual loss in the fourth quarter. Wells Fargo accounts for most of the increase in servicing profits.
JPMorgan Chase reported a $200 million increase in mortgage banking income in the first quarter of 2019, a period when the banking industry managed just a $21 million gain.