While production was up in the third quarter, U.S. Bank's mortgage banking revenue actually declined...

However, compared to Bank of America, Wells looked like a rock star. BofA produced just $13.4 billion of residential loans in the July-to-September period, an ugly 42.4% drop from the second quarter...

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 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.

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.

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…

A Supreme Court ruling in June backed the president’s power to remove the CFPB director without evidence of wrongdoing.

Caliber is worried that if interest rates rise from current levels, the volume of prepayments and mortgage payoffs is likely to decline, which will reduce the cash available to fund servicing-advance obligations.