The previous record, $895.31 billion, was set in the third quarter of 2003.

Finance of America ranked 27th among all lenders in the first half of 2020. The firm projects $293 million in net income for the year.

This morning, on the heels of JPM’s results, nonbank United Wholesale Mortgage, reported third quarter originations of $54.2 billion, a sequential gain of 31.8%. UWM also disclosed period earnings of $1.5 billion, a record for the soon-to-be-public company.

The reason for the decline: Many borrowers saw their forbearance plans expire because they did not contact their servicer. At least, that’s what MBA concluded.

The overall number of loans declined as borrowers whose loans were not in forbearance took advantage of low interest rates to refinance. Ultimately, Fannie’s net forbearance rate only declined about 1.0% in June, WFS said.

In other words, in a market sized at roughly $2 trillion, and with total delinquencies measured at $218.9 billion (according to Ginnie’s website), the so called COVID-19 liquidity crisis never arrived...

At the same time, sales of refi loans in the highest-risk category fell 5.0%. Such loans have LTVs of 81% to 97% and FICO scores of 620 to 699.

The acquisition will help expand Western Alliance Bank's warehouse lending efforts.

Despite what looks like good news, Black Knight warned there are another 800K forbearances reaching the end of their initial six-month terms over the next 30 days...

MBA also urged the regulator to create guardrails to prevent any individual shareholder from gaining control of Fannie and Freddie after they’ve exited conservatorship…