JPMorgan Chase reported a $32.24 billion decline in agency MBS holdings in its trading account during the fourth quarter.

While originations ticked up for some, gain-on-sale margins declined during the fourth quarter.

Mortgage-banking income reported by nonbank lenders nearly tripled in the fourth quarter to $3.86 billion. The gain came from massive markups of MSR values thanks to rising interest rates. (Includes data table.)

Bank holdings of structured finance securities backed by business loans declined slightly in the fourth quarter, although several institutions grew their portfolios. (Includes data table.)

Bank holding companies sharply reduced their trading-account holdings of MBS and ABS in the fourth quarter. JPMorgan Chase and Citi recorded significant declines. (Includes two data tables.)

Among 16 REITs that focus on investments in mortgage assets, holdings declined by 3.7% during the fourth quarter.

The share of specified pools of GSE MBS increased from 40.7% in 2023 to 44.4% last year.

The February lull is a common seasonal occurrence.

Agency single-family business was down in February in almost every category, but 2025 so far is running ahead of last year’s pace. Ginnie reported a surge in modified-loan securitization. (Includes two data tables.)

Fourth-quarter declines in agency MBS portfolios at Annaly and AGNC were key to an overall downward drift in REIT MBS holdings. (Includes two data tables.)