While banks overall reduced their servicing for others, Chase, Flagstar, M&T and MUFG Union Bank all built up their portfolios in the first quarter.

The Federal Reserve reduced its holdings of agency MBS by $47 billion during the first quarter, but several other investor groups picked up the slack. Total MBS outstanding grew 0.4% during the first three months of the year.

Home-equity lending fell 15% in the first quarter of 2019 as the total supply of HEL debt outstanding continued to shrink. Heavy cash-out refinancing was a factor.