The jumbo market was humming along at the start of the year until volatility from the coronavirus disrupted lending in March. Originations of jumbos declined sharply and the sector lost market share. (Includes data chart.)
Nearly all the firms in a group of 30 servicers increased their jumbo portfolio in 2019. Chase and Truist were the only ones to see a decrease. (Includes data chart.)
Banks and thrifts increased their holdings of residential first liens by 4.1% in 2019. Among the top 10 banks, three reduced their portfolios. (Includes data chart.)
The retail channel, which is the predominant source of jumbo originations, gained market share from the correspondent channel last year. (Includes data chart.)
Anchor Loans and LendingHome are the largest lenders operating in the fix-and-flip space. An analysis of the most recent HMDA data suggests the firms are neck and neck in originations of short-term loans. (Includes data chart.)
Originations of ARMs increased during the third quarter but they didn’t keep pace with total first-lien production, prompting a loss of market share for the sector. Wells remained the top ARM lender. (Includes data chart.)
IO lending increased in the third quarter, with First Republic leading the pack. The bank held nearly $30 billion of IOs in portfolio as of September-end. (Includes data chart.)
The retail share of jumbo originations is up this year even with top-ranked Wells Fargo placing a greater emphasis on the correspondent channel. More than 80% of jumbos originated in the third quarter came through retail means. (Includes data chart.)
Among a group of 30 prominent servicers of jumbo mortgages, only three shrank their portfolios in the past year. Wells Fargo remained the top-ranked servicer as of September 30, though the bank lost some market share. (Includes data chart.)
The amount of outstanding subprime mortgages handled by a group of prominent servicers fell by 4.1% in 3Q19. Among the 15 processors, none increased their portfolios on a sequential basis. (Includes data chart.)
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