PNC's margin on mortgage production declined from 1.96% in the second quarter of 2024 to 1.45% in the third quarter.

Non-agency MBS issuance backed by new originations totaled $20.15 billion in the third quarter, up 17.7% from the previous quarter.

Wells originated $5.5 billion of mortgages through the retail channel in the third quarter of 2024, down 14.1% from the third quarter of 2023.

FHA issued an extensive FAQ document late last week, addressing questions about guidance with an Oct. 31 implementation date for reconsiderations of value.

Residential funders employed 184,000 full-timers at the end of August, down 12,600 from August 2023.

An affiliate of Radian Group is marketing its second jumbo MBS.

Originations increased at Chase and Wells in the third quarter though production revenue was down.

Total servicing tied to agency single-family mortgage-backed securities rose to $9.004 trillion as of the end of September.

Blackstone is expected to initially operate as a buyer of loans with mortgage-backed security issuance to follow.

Kristen Clarke, assistant attorney general in the DOJ’s civil rights division, said the settlement shows that the DOJ intends to hold “all types of lenders accountable for their role in modern-day redlining.”