November issuance was down 0.2% from October mostly because of weakening purchase-mortgage securitization, which fell 5.0% on a monthly basis.

Nine months through the year, IO production is up 60.0% compared to the same span in 2019...

MBA: “Compared to the last two months, more homeowners exiting forbearance are using a modification – a sign that they have not been able to fully get back on their feet, even if they are working again.”

Even though Wells shut off its correspondent spigot for jumbos early in 2Q20, $1.88 billion of product came through the channel...

Financial turbulence forced REITs to sell off their MBS holdings in March as the pandemic cratered economies around the world.

As the year winds down, mortgage firms still need workers, especially in the back office...

The FHA/VA market was more subdued, with total conforming-jumbo loans pooled in Ginnie MBS rising 16.7%. The VA program accounted for 83.0% of government-insured jumbo volume, with quarterly securitization up 17.7%.

The decline in first-time buyer share was due in part to a failure of the government-insured sector to keep pace with the conventional market.

Those top three banks increased their mortgage banking income by a combined $1.35 billion — or nearly 60% of the industry’s $2.29 billion increase during the third quarter.

MBA’s Michael Fratantoni: “The job market data for November showed an economic recovery that was slowing in response to the latest surge in COVID-19 cases. It is not surprising to see the rate of forbearance exits slow, as households that needed forbearance assistance in October may be in even greater need now.”