While market share of small- and mid-sized nonbank lenders grew, there was some leakage at the large nonbank lenders. Large mortgage companies’ market share fell sequentially to 53.8% from 56.1%. (Includes two data tables.)

Rocket is set to issue its second consumer loan ABS; Golub Capital issues rare long-duration CLO; large jumbo MBS from Chase; ratings performing as expected.

Rocket Mortgage claims it had no authority to correct the alleged discriminatory appraisal connected to a refinance application. The lender said it expects to be vindicated.

Even as loan deliveries to Fannie Mae and Freddie Mac increase, the two entities continue to lose business to Ginnie Mae issuers. (Includes two data tables.)

FHFA established a new policy — that no GSE servicer should have a market share exceeding 20% — when it authorized Fannie and Freddie to continue doing business with the combined entity that will be formed following Rocket Companies’ planned acquisition of Mr. Cooper Group.

Regulatory approval of the merged company creates the second-largest GSE seller and by far the largest GSE servicer.

The regulator, though, says no market participant can account for more than 20% of the GSEs' servicing market.

Single-family mortgage securitization by the GSEs declined by 9.7% on a monthly basis in July, with refinance business down sharply. (Includes two data tables.)

Rocket Mortgage is leaning on artificial intelligence to improve lending efficiency. The nonbank is wrapping up its acquisition of Mr. Cooper and already seeing benefits from its acquisition of Redfin.

Although total GSE servicing remained almost unchanged as of the end of the second quarter, some large servicers — mostly nonbanks — experienced disproportionate year-over-year gains in volume. (Includes two data tables.)