Wholesale-broker originators boosted their market share in conventional-conforming mortgages in the fourth quarter. Correspondents regained some previously lost ground in FHA/VA lending while retail remained king of the nonconforming segment. (Includes two data tables.)
U.S. depository institutions remained key players supporting the MBS market, but their combined holdings declined in the fourth quarter. Mutual funds and life insurers picked up the slack. (Includes three data tables.)
Loans in Ginnie Mae MBS accounted for 17.7% of total single-family mortgage servicing outstanding as of the end of 2024, up from a 17.0% share at the end of 2023. Nonbanks continue to gain share.
There’s a new market leader in the subservicing arena: Mr. Cooper. But with the OCC ready to lift sanctions against number-two-ranked Cenlar, a dog fight could be ahead.
Mortgage-banking income reported by nonbank lenders nearly tripled in the fourth quarter to $3.86 billion. The gain came from massive markups of MSR values thanks to rising interest rates. (Includes data table.)
Bank holdings of structured finance securities backed by business loans declined slightly in the fourth quarter, although several institutions grew their portfolios. (Includes data table.)
Bank holding companies sharply reduced their trading-account holdings of MBS and ABS in the fourth quarter. JPMorgan Chase and Citi recorded significant declines. (Includes two data tables.)
The retail share of total first-lien originations declined to close to 50% in 2024. Brokers took share from the retail channel, led by United Wholesale Mortgage. (Includes six data tables.)
Agency single-family business was down in February in almost every category, but 2025 so far is running ahead of last year’s pace. Ginnie reported a surge in modified-loan securitization. (Includes two data tables.)
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