Production of jumbos increased by nearly 50% in 2019. The increase was proportional to broader trends in the mortgage market, but the sector didn’t keep pace in the fourth quarter. (Includes data chart.)

CFPB Director Kathy Kraninger says the relatively small size of the non-qualified-mortgage market is one of the reasons the bureau plans to change QM standards.

Congress is unlikely to increase the g-fee charged by the GSEs, though the FHFA may as part of efforts to “level the playing field” between the GSEs and the non-agency market.