The increase in impairments in November was the largest increase seen in the sector outside of COVID.

JPMorgan Chase, the largest bank retail lender, sold $9.23 billion of mortgages in the third quarter, up 5.5% from the second quarter.

Lenders must maintain policies and procedures that detail the underwriting factors they used and retain documentation showing how they took those factors into account in the ability-to-repay determination.

Mortgages from a variety of lenders are included in the MBS, led by HomeXpress Mortgage with a 42.0% share.

Buybacks from the GSEs declined by 29.0% in the third quarter compared with the previous quarter.

The planned $440.9 million issuance is the largest jumbo MBS from Redwood in more than a year.

The industry expects robust bulk MSR trading during the first quarter.

Total residential MBS holdings rose 6.3% to $384.87 billion and ABS holdings, while much smaller, were up 20.4%.

“The market has had more liquidity of late than it’s had in some time,” said Homebridge CEO Peter Norden.

Both FHA and VA issuance volume declined in November, with VA activity posting the larger fall.