Pennymac laid off origination staff and is counting on technology to keep its lending capacity elevated. Leaders at Newrez and loanDepot are also touting their tech investments.
Originations were up 27.7% at JPMorgan Chase. BofA posted a similar gain as Chase while Wells Fargo’s production was up more than 40%. Mortgage revenue, meanwhile, declined at Chase and Wells.
Originations of jumbo mortgages increased by 50% on an annual basis in the first quarter of 2026. The bulk of the volume is in non-agency jumbos, with the conforming jumbo sector also holding up. (Includes three data tables.)
Conventional-conforming mortgages accounted for 54.3% of originations in the first quarter of 2026. Rocket Mortgage was the top producer of the loans in the quarter. (Includes two data tables.)
The interest rate outlook is looking better for MSR values than it is for mortgage originations. New Fed Chair Kevin Warsh faces headwinds on a rate cut this year, with some economists anticipating that the next move by the central bank will actually be a rate hike.
Overall, FHA and VA lending declined by 8.3% on a quarterly basis in the first quarter of 2026. FHA refi volume was up, helped by loans to existing FHA borrowers. (Includes three data tables.)