The coronation of JPMorgan Chase as king of the servicing market is unfolding in the second quarter as the company takes over First Republic’s whole-loan portfolio and Wells Fargo ships off $50 billion of agency MSR. (Includes three data charts.)

Transfers of agency mortgage servicing rights in the first quarter of 2023 dropped 50.1% compared with the previous quarter.

The top three volume leaders in 1Q23: PennyMac Financial, United Wholesale Mortgage and Rocket Mortgage...

Lakeview Loan Servicing dominated both the bulk and coissuance MSR transfer markets, accounting for nearly a third of first-quarter activity. (Includes three data charts.)

Attractive spreads are drawing investor interest to the CLO market, where strong BSL securitization drove surging issuance. (Includes two data charts.)

PennyMac and a handful of other lenders appeared to benefit from the retreat of Wells Fargo from the correspondent market. (Includes two data charts.)

Loans with MI represented 63.8% of total mortgage-backed securities issued by Fannie, Freddie and Ginnie in the first quarter.

A larger portion of GSE-eligible mortgages didn't make it into MBS in 2022.

The two biggest components in the ABS market — vehicle and business finance securitization — recorded significant gains from the fourth quarter. Overall issuance was boosted by utilities deals. (Includes two data charts.)

Volume was down across the board for insured mortgages, but PMIs saw a modest gain in market share in first-quarter agency MBS issuance. (Includes three data charts.)