Mortgage originations declined across the three major production channels in the first quarter of 2026. Pennymac reported a 32.8% drop in conventional-conforming volume through correspondents. (Includes two data tables.)

Non-QM underwriting was once a hands-on process, but lenders are increasingly testing the use of AI.

JPMorgan Chase remained by far the most prominent seller, with $23.05 billion in volume during the first quarter. (Includes two data tables.)