While production increased, mortgage-banking revenue at Western Alliance declined by 31.0%.

To this point, many of the jumbos Citi’s correspondent unit originates have been held for investment by Citi rather than delivered into the secondary market.

Flagstar is on track to sell its mortgage servicing business and third-party origination business to Mr. Cooper Group during the fourth quarter.

Fannie economists project that purchase-mortgage originations will increase by 15.4% on an annual basis in 2025.

Noncore products are loans in which the non-agency market competes with the GSEs.

It’s not clear what secondary market execution UWM will employ nor whether UWM will use lender-paid MI.

VA issued a temporary variance to allow borrowers to pay buyer-broker charges so they could compete in the real estate market.

Chimera will pay $30 million upfront for Palisades Group and an earnout of up to $20 million.

Some $93.98 billion of non-agency MBS was issued year-to-date through September, putting the market on track for its best year since 2021.

Ginnie Mae Acting President Sam Valverde said loan-level securitization could help liquidity.