The FHLBanks’ decision to voluntarily increase contributions to affordable housing and community development from 10% of net income to 15% has taken a toll on profits. (Includes three data tables.)
WaFd Bank is ending its mortgage origination activity; TD Bank is considering selling jumbo mortgages; some banks are still increasing their mortgage business; President Trump issues order on housing, freezes regulatory efforts.
TD Bank plans to sell some of its jumbo mortgages and a correspondent business to free up asset space under a new cap set by the OCC. Wells Fargo, meanwhile, appears to be nearing a release from its cap.
Mortgage holdings at banks increased last year despite mixed results at the largest depositories, including a decline at Wells Fargo. The ARM share also increased somewhat. (Includes data table.)
Top servicers’ jumbo portfolios declined from the third to the fourth quarter of 2023. But from a year ago, servicing volumes were up. (Includes data table.)
High interest rates and tighter credit boxes led to a decrease in originations of non-agency jumbos in the third quarter of 2023. (Includes data table.)
The retail channel accounted for 85.9% of jumbo originations in the first six months of the year among a group of major lenders tracked by this newsletter, up from 80.2% in the first half of 2022. (Includes data chart.)