Per IMF News:
Agencies Nipped More Jumbo Share in 2016
By John Bancroft
jbancroft@imfpubs.com
The jumbo mortgage market generally kept pace with the robust growth in first-lien originations last year, but the agency component clearly did better than the non-agency side, according to a new Inside Mortgage Finance ranking and analysis.
An estimated $534.57 billion of single-family mortgages with loan balances exceeding $417,000 were produced last year, an increase of 20.0 percent from 2015. That was in line with the 19.0 percent growth in total first-lien production in 2016.
But the agency jumbo market – loans in high-cost markets eligible for securitization by Fannie Mae, Freddie Mac and Ginnie Mae – was up 30.9 percent for the year, to a record $153.57 billion. The estimate is based on conventional, FHA and VA mortgages for one-unit properties that were securitized during 2016 and had loan balances exceeding $417,000 – the traditional agency loan limit.
These conforming-jumbo loans accounted for 28.8 percent of total jumbo production in 2016, the highest share since 2013. For the full story and exclusive tables, see the new edition of Inside Mortgage Finance.
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