Purchase-mortgage business held steady in Fannie/Freddie MBS issuance in July while refinance volume continued to drop. (Includes two data charts.)

After cutting interest rates on its products in late June, UWM expects its gain on sale to decline from 99 bps in the first half of this year to as low as 30 bps in the third quarter.

Some banks are partnering with Rocket Mortgage on originations. Rocket said banks are having a hard time competing with the nonbank.

An increase in purchase mortgages wasn’t enough to offset ongoing declines in refi volume, pushing issuance of Ginnie MBS down 2.9% in July compared with June. (Includes two data charts.)

Megabanks topped the list of GSE servicers in the first quarter of 2022, but they continued to lose market share to nonbank servicers. (Includes two data charts.)

Among the top 100 GSE sellers, 78 delivered less dollar volume to Fannie Mae and Freddie Mac in the first quarter of 2022 than in the previous period.

The volume of loans delivered to Fannie Mae and Freddie Mac declined by 23.0% from January to February. The sequential decline seems to be a result of the 18% hike in conforming loan limits. (Includes two data charts.)

Nonbanks continued to gobble up market share among GSE MBS servicers, jumping from a 50.3% share a year ago to 56.2% at the end of 2021. (Includes two data charts.)

With volumes down slightly for the quarter, depositories experienced a slight increase in their market share. But nonbanks still account for more than 68% of total GSE loan sales. (Includes two data charts.)

A report by Fitch Ratings forecasts a sharp drop in originations and declining GOS margins that will put pressure on earnings for smaller nonbank lenders.