Fannie Mae had the biggest monthly gain in total production among the three agencies, which raised its share of agency MBS issuance in October two percentage points to 27.3%.

The uptick bucked a seasonal trend, as locks for purchase mortgages typically decline each month after spring.

Refis account for 15.0% of the planned $365.3 million issuance.

None of the state or local downpayment assistance programs have enough scale or funding to make a meaningful impact in addressing the challenge of accumulating a 3.5% downpayment on FHA loans, according to analysts at the Urban Institute’s Housing Finance Policy Center.

While agency MBS issuance surged in October, some of the top sellers posted declines in volume compared with September.

“The refi boom has not fully materialized, but we have seen a preview of it and were able to capitalize on it instantly while others were caught flat footed,” Mat Ishbia, chairman and CEO of UWM, said Thursday during the lender’s earnings call.

Movements in Treasury yields — rather than actions by the Fed — have been a bigger driver in changes to interest rates on mortgages recently.

The capital relief will be provided via an adjustment to MSR values.

One Company, One Exam aims to streamline mortgage examinations for companies by completing one state exam per company using a series of standardized exam questions.

The modest decline in delinquencies in the third quarter was tied to early-stage delinquencies, while later-stage delinquencies increased.