Production of new collateralized loan obligations as well as reset transactions in the first quarter of 2024 hit the highest level since the market reached all-time highs in 2021.
The top-line originations number held steady compared with the fourth quarter while movements in the mortgage market occurred beneath the surface. United Wholesale Mortgage regained its position as the largest lender in the first quarter.
The nonbank share of GSE servicing hit 57.8% as of the end of March, up from a 57.0% share at the end of 2023. Two of the largest banks reduced their GSE servicing during the first quarter. (Includes two data tables.)