According to IMF’s tally, the top five warehouse providers in the third quarter were: JPMorgan Chase ($18.50 billion in commitments), Texas Capital ($7.95 billion), First Tennessee ($7.90 billion), TIAA FSB ($6.50 billion) and Wells Fargo ($6.00 billion).

After all, who wants to invest in a shrinking (GSE) business? Something to think about…

The supply of one- to four-family mortgage debt outstanding climbed 0.8% from June to reach $11.075 trillion as of the end of the third quarter. It was the highest MDO number since June 2009.

The review will consider the interplay between the non-agency market and the GSEs and the impact of the exemption for qualified residential mortgages...

One Freddie shareholder quipped: "It sounds like something their advisors would have recommended – to improve proforma [earnings] going into a capital raise."  

Mat Ishbia of UWM: “We feel great knowing more LOs [loan officers] and consumers are going through the broker channel…”

Wells Fargo posted a 6.5% increase in repurchases from the second quarter, though its year-to-date volume was down from 2018.

The senators asked for a detailed timeline for ending the conservatorships and a list of benchmarks the GSEs must meet.

The deduction for mortgage insurance premiums and a tax break on forgiven mortgage debt had expired at the end of 2017 while funding for the National Flood Insurance Program was set to elapse on Dec. 20.

Overall, the trading volume in third quarter was the thinnest of the year and 4Q19 could be weaker still.