Government lending accounted for a rising share of first-lien originations in 2022 largely by taking in higher-risk loans. The steepest decline in the fourth quarter was in conventional-conforming production. (Includes two data charts.)

Note: Once upon a time, Wells regularly was the top bank in the business...

The industry goliaths reported huge declines in earnings from their mortgage banking operations in the fourth quarter, driving the sector to its weakest profits in more than a decade. (Includes data chart.)

Ginnie, by the way, ranked as the top agency MBS issuer for the fifth straight month.

Ginnie again ranked as the top agency MBS issuer in January. While production fell for the 10th straight month, several lenders boosted their monthly sales. (Includes two data charts.)

Fun fact: Depository institutions outgrew nonbanks in the agency MSR market during the fourth quarter.

Delinquency rates are rising and many observers expect a mild recession this year. Nonbanks continue to grow their share of agency MSRs while banks build whole-loan portfolios. (Includes three data charts.)

Only 23 lenders completed IRRRL endorsements in the final three months of 2022.

Only 23 lenders made streamlined VA refinance loans during the fourth quarter of 2022 as high interest rates have made the program nearly useless for veterans.

Despite a surge in middle-market CLO issuance in the fourth quarter, total production of structured credit deals drifted lower in late 2022. Blackstone was the most active sponsor, while JPMorgan led in CLO underwriting. (Includes two data charts.)