Despite the results, four of the top 10 depositories sold more loans into the secondary market in 2013 than they did the year prior.

The only spurt of growth in the MBS market was in the non-agency sector, where new issuance was up 36.5 percent from the fourth quarter.

Wells Fargo and JPMorgan Chase both had huge drops exceeding 40 percent on mortgages sold to Fannie Mae and Freddie Mac.

Also, new single-family MBS production by Fannie Mae and Freddie Mac plummeted 15.6 percent from February to March as the GSEs posted their lowest quarterly production total in 14 years.

Most industry fortune tellers expect the mortgage market to rebound somewhat as home-buying season warms up. (There are daffodils in Washington.)

In its heyday, S&P used to rate more than 90 percent of new issuance of non-agency MBS, but in 2013 it accounted for just 40.0 percent of the market by dollar volume.

The top three HEL lenders in the market – Wells Fargo, Bank of America and Chase – originated a combined $17.8 billion in home-equity loans last year, but they still saw a $32.1 billion decline in their total holdings of HELOCs and closed-end seconds.

Nonbanks owned servicing rights on $1.136 trillion of securitized mortgages at the beginning of 2010, a figure that has swelled to $1.906 trillion as of the end of last year.

At the end of 2013, the Fed’s holdings topped the commercial banking industry’s total MBS portfolio of $1.369 trillion, and it accounted for 26.6 percent of the $5.601 billion of agency single-family MBS outstanding at that time, according to Inside MBS & ABS.

Other firms had more of a jumbo focus. Second-ranked PHH Mortgage reported that 50.0 percent of its originations in 2013 were non-agency jumbos.