Jumbo lending increased a scant 2% in the fourth quarter and held steady on an annual basis in 2020. The sector lost a significant amount of market share as agency refi business boomed. (Includes data chart.)
The volume of jumbo servicing handled by 30 of the top firms in the sector declined by nearly 6% in 2020. The share of borrowers missing payments is increasing. (Includes data chart.)
Shellpoint processed more than 25% of the dollar volume of non-agency MBS issued in 2020. Servicers continue to grapple with elevated delinquencies, forbearance and concerns about disclosures. (Includes data chart.)
The correspondent channel accounted for 5.7% of jumbo originations among a group of major lenders tracked by this newsletter, down from 10.5% in 2Q20. The retail channel gained all of that market share. (Includes data chart.)
Select Portfolio Servicing gained ground during the third quarter but Shellpoint Mortgage Servicing remained the top servicer of non-agency MBS. (Includes data chart.)
The volume of business the GSEs conduct in various noncore categories increased in 3Q but the noncore share of Fannie/Freddie business declined as lenders focused on refinances. (Includes data chart.)
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