Correspondent production of conventional-conforming loans fell 17.3% on a quarterly basis, reducing the channel’s share to 36.7%, the lowest reading in the past five years.

The survey was based on responses from 336 lenders, 81% of which are nonbanks. Firms in the study originated, on average, $728 million of loans in 1Q20.

All three agencies recorded declining purchase-mortgage volume...

The new unemployment report from Uncle Sam is out Friday morning. It will not be pretty...

But the first quarter was just a prelude to the crescendo of refinance activity in April and May. A whopping $323.4 billion of refi loans were securitized by the GSEs and Ginnie during the past two months...

Black Knight estimates that based on its reading of May 26, MBS servicers need to advance $3.6 billion a month to investors in government MBS on forborne loans and an additional $1.5 billion for real estate taxes and insurance.

There was also a substantial $1.53 billion increase in overall industry holdings of auto ABS during the first quarter.

Total Ginnie MBS production last month came to $61.34 billion, topping the previous record set in October 2019.

Industry consultant Paul Hindman called the profit margin news from Mr. Cooper "phenomenal."

Wells Fargo led the jumbo pack in 1Q20 but its volume fell 23.1% on a sequential basis...