Both the non-agency jumbo market and high-balance agency production saw sharp declines during the first quarter of 2023. In a cooler housing market, buyers are looking for affordability. (Includes three data charts.)

With banks and the Fed shedding MBS, REITs added to their portfolios.

The purchase-mortgage share is growing as refinance business dwindles.

The Federal Reserve has been paring its massive agency MBS portfolio, and banks have been on the sideline. Cue a modest rebound in REIT investment in the sector in the first quarter. (Includes data chart.)

Both purchase-mortgage lending and refinancing were down substantially in the first quarter, but a number of lenders gained share — or even increased production volume — compared with the prior period. (Includes four data charts.)

Half of the 16 public nonbanks posted losses in the first quarter.

A reduction in the commingle fee that applies to the GSEs helped to increase such issuance somewhat in April.

Wells reported just $980 million in correspondent production in the first quarter, effectively leaving about $4.5 billion on the table for others.

Half of the 16 publicly traded nonbank mortgage lenders reported net losses in the first quarter. The MBA found independent mortgage bankers lost an average of $1 million, largely due to hugely unprofitable loan production. (Includes data chart.)

Although top-ranked TD Bank trimmed its portfolio substantially, a handful of banks increased their ABS holdings in early 2023. (Includes two data charts.)