The Federal Reserve has been paring its massive agency MBS portfolio, and banks have been on the sideline. Cue a modest rebound in REIT investment in the sector in the first quarter. (Includes data chart.)

Both purchase-mortgage lending and refinancing were down substantially in the first quarter, but a number of lenders gained share — or even increased production volume — compared with the prior period. (Includes four data charts.)

Half of the 16 public nonbanks posted losses in the first quarter.

A reduction in the commingle fee that applies to the GSEs helped to increase such issuance somewhat in April.

Wells reported just $980 million in correspondent production in the first quarter, effectively leaving about $4.5 billion on the table for others.

Half of the 16 publicly traded nonbank mortgage lenders reported net losses in the first quarter. The MBA found independent mortgage bankers lost an average of $1 million, largely due to hugely unprofitable loan production. (Includes data chart.)

Although top-ranked TD Bank trimmed its portfolio substantially, a handful of banks increased their ABS holdings in early 2023. (Includes two data charts.)

Fannie and Freddie reduced the fee for commingled collateral in Supers starting in April, and new issuance showed more diversity — but nothing like the levels before mid-2022. (Includes two data charts.)

PennyMac appeared to gain the most from Wells Fargo's exit from the correspondent market during the first quarter. Slumping refinance business hit the retail channel hard. (Includes six data charts.)

A big chunk of that downturn resulted from the collapse of Silicon Valley Bank...