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.”

Flagstar, a top-20 player in mortgages, recently posted a handsome $222 million profit for the third quarter.

Among the top five agency MBS issuers for the 30-day period, just one was a depository: Wells Fargo at number three.

MBA's Marina Walsh: “Soaring production revenues – led by strong secondary marketing gains – drove these results and more than offset an increase in production expenses.” 

Quicken Loans is the top contributor to the new Morgan MBS, accounting for 36.3% of the collateral.

UWM reported a 69.2% jump in refi volume, while PennyMac, Freedom Mortgage, loanDepot, Mr. Cooper Group and NewRez all increased their market share as well.

Guild's GOS: 562 basis points for the third quarter compared to 502 for the first half...