During the third quarter of 2025, Pennymac once again passed JPMorgan Chase as the largest contributor to prime non-agency mortgage-backed securities. (Includes three data tables.)
While most mortgage industry participants believe the tri-merge limits competition among the three credit reporting companies, some say it’s a critical tool to maintain the credit quality of mortgages.
JPMorgan Chase leads the market in non-agency MBS issuance, offering all types of deals. Jamie Dimon adds that long-sought reforms could help boost volume.
Wells Fargo has the freedom to increase activity in various financial products now that the bank is out from under an asset cap. And officials at the bank have plenty of plans for growth, but not with mortgages.
CFPB is investigating price gouging by private equity firms; litigation may occur between the bureau and JPMorgan Chase regarding Zelle payments; CFPB and other federal regulators release a proposed rule to standardize data submitted to federal financial agencies; CFPB proposes $3.0 million in penalties for credit repair issue.
Although FHLB borrowing declined in the first quarter, with lenders continuing to reduce outstanding advances, profits for the system as a whole were up 9.6% from the fourth quarter and 16.6% year to date. (Includes three data tables.)
United Wholesale Mortgage remained the top contributor to jumbo MBS in the third quarter, though other lenders gained market share. Large nonbanks and a wide number of smaller lenders have been contributing collateral for jumbo MBS. (Includes three data tables.)