Sam Valverde, acting president of Ginnie Mae, noted that Ginnie and the Department of Veterans Affairs have policies in place to prevent refis that don’t benefit borrowers and they will continue to watch for “abnormal” refi activity.

Annaly Capital Management’s Onslow Bay Financial remained the top issuer of expanded-credit MBS in the third quarter.

The REIT is off slightly from its pace in the second quarter. However, executives are optimistic that rising product demand and bank partnerships should continue to spur growth.

The average estimated guarantee fee on Freddie’s new single-family business in the third quarter was 57 basis points, up 3 bps from the second quarter.

Nearly all of the loans in Provident’s MBS are for primary residences.

Applications for refis declined while demand for purchase mortgages ticked up last week.

The loss was driven by negative marks on mortgage servicing rights and losses on interest rate swaps tied to hedging.

Mark Fair, an associate vice president and senior portfolio manager at Venerable, a life insurance company, said he’s “very constructive” on the non-QM market.

“Modernizing and providing more clarity on structuring marketing services agreements and affiliated business arrangements and making it easier for lenders to market digitally to consumers would spur greater competition, increase consumer choices and lower settlement costs without compromising core protections,” Bob Broeksmit, president and CEO of the MBA, said in the trade group's white paper on RESPA reforms.

Annaly says it increased its holdings of agency MBS with higher coupons during the third quarter.