PennyMac appeared to gain the most from Wells Fargo's exit from the correspondent market during the first quarter. Slumping refinance business hit the retail channel hard. (Includes six data charts.)

A big chunk of that downturn resulted from the collapse of Silicon Valley Bank...

Banks reduced their appetite for jumbos in the first quarter.

The failures of SVB and Signature Bank were the major causes of another decline in aggregate bank MBS holdings, but the fair value of the industry's portfolio remains well below amortized cost. (Includes two data charts.)

Conventional-conforming mortgages remain the biggest sector in the originations market, and production was down 12.7% in the first quarter. Meanwhile, ECM lending is getting more attention. (Includes two data charts.)

Mortgage earnings at banks bounced back after a dismal fourth quarter.

Government MI volume slid 19.0% to an estimated $71.38 billion.

After a harsh fourth quarter, most banks reported rebounding earnings from their mortgage banking operations in early 2023 despite declining originations volume. (Includes data chart.)

A resurgence of conduit deals helped lift non-agency CMBS issuance in the first quarter of 2023. But agency multifamily securitization fell sharply. (Includes two data charts.)

Originations of first-lien home loans with some form of primary mortgage insurance declined 15% during the first quarter, a less severe downturn than the overall market recorded. Private MIs got the most benefit. (Includes four data charts.)