A geographic shift in the industry's power base?

United Wholesale Mortgage ceded the top spot after it stopped originating jumbos in March 2020 due to volatility from the coronavirus.

Citi started issuing expanded-credit MBS in 2020 but hasn't come to market with a jumbo deal since 2014.

Guaranteed Rate jumped to the top spot in the first quarter of 2021 among lenders contributing to prime non-agency MBS. MAXEX Clearing also sharply increased its contributions. (Includes two data charts.)

Prime non-agency MBS issuance continued to flow in April, helped by some new players. Expanded-credit activity has been limited recently, with a downturn in demand.

Non-agency lenders are waiting for a decision from the CFPB on standards for qualified mortgages. The CFPB wants to extend the QM patch, though the Trump administration threw a wrench in that plan.

Mortgage originations declined by 11% in the first quarter at First Republic while Redwood increased its lock volume by 21% from the fourth quarter.

Non-agency originations of higher-priced mortgages declined by 35% on an annual basis in 2020. The higher-priced designation is a proxy federal regulators use for subprime mortgages. (Includes two data charts.)

Redwood is trying to shift blockchain from a buzzword to practical technology for the non-agency MBS market. The firm made an investment in Liquid Mortgage, a blockchain-focused startup.

After focusing on fix-and-flip lending in Connecticut for years, Sachem Capital is now lending in 10 states. The lender recently completed debt sales to fuel its growth.