The cap and other regulatory issues prompted numerous adjustments at Wells, including a retreat on mortgage lending and servicing.

An estimated $49.0 billion of non-agency jumbos were originated in the first quarter of 2025.

Some mortgage borrowers now face higher monthly payments for taxes and insurance than for the principal and interest obligations tied to a mortgage.

The Trump administration will usher in a "Golden Age of homeownership," according to HUD Secretary Scott Turner.

Shareholders sued Rocket in 2021 following a stock sale, claiming that Rocket sold stock when officials at the company had material nonpublic information suggesting that Rocket’s business — and share price — were poised to decline.

“People are pausing because of rampant uncertainty,” said Michael Fratantoni, chief economist and a senior vice president of research and business development at the MBA.

“Fannie Mae and Freddie Mac acting more private but still being in conservatorship might be the best of both worlds,” said Mat Ishbia, president and CEO of United Wholesale Mortgage.

Non-agency jumbos accounted for 13.8% of total first-lien originations in the first quarter of 2025, compared with an 11.1% share in the first quarter of 2024. Chase remained the top jumbo producer and Redwood Trust is gaining momentum. (Includes data table.)

Federal entities should take steps to boost the non-agency market, according to the MBA. Meanwhile, FHFA isn’t necessarily looking to shrink the GSEs’ footprint.

Jumbos contributed to the uptick in nonconforming lending during the reporting period.