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.)

Wells is shrinking its servicing portfolio while Chase is growing.

Note: The average interest rate on Ginnie refi loans was 5.93%.

For the first time ever, nonbank lenders held the top seven rankings among agency seller-issuers in April. Their aggregate clout equaled over 40% of the market. (Includes two data charts.)

The coronation of JPMorgan Chase as king of the servicing market is unfolding in the second quarter as the company takes over First Republic’s whole-loan portfolio and Wells Fargo ships off $50 billion of agency MSR. (Includes three data charts.)

Transfers of agency mortgage servicing rights in the first quarter of 2023 dropped 50.1% compared with the previous quarter.

The top three volume leaders in 1Q23: PennyMac Financial, United Wholesale Mortgage and Rocket Mortgage...

Lakeview Loan Servicing dominated both the bulk and coissuance MSR transfer markets, accounting for nearly a third of first-quarter activity. (Includes three data charts.)