Rocket Mortgage, the largest agency servicer and a nonbank, went the other way, reducing its portfolio during the quarter.

A tool for annual financial reports now pre-populates information for issuers, changing a three-hour process to a 15-minute process, based on two issuers’ anecdotes.

The bank sharply increased the size of its subservicing portfolio in June.

Fannie's forecast also shifted from a modest increase in mortgage originations on an annual basis in 2027 to a 10.6% decline.

Much of the increase was from prime jumbos.

The value of MBS holdings declined during the quarter as interest rates increased sharply.

First Horizon took a $473 million pre-tax loss in non-interest income on the sale of mortgages with an unpaid principal balance of $4.5 billion.

Issuance of non-agency MBS increased by 9.3% during the third quarter to $65.27 billion.

Loans in the $294.1 million issuance have seasoned for an average of two months.

Kieran Brady, chief financial officer at Archwest, said the outlook for the RTL sector remains strong, supported by the long-term need for new housing and renovation of existing homes.