For weeks, there had been unconfirmed rumors that UWM might be contemplating an IPO but the missing ingredient was the SPAC. Based in Pontiac, MI, the privately held UWM, ranks third among all originators, according to figures compiled by Inside Mortgage Finance.

The soft performance in the FHA/VA market was all due to declining production in the correspondent and wholesale-broker channels. Retail originations of government loans were up 38.4% for the survey group.

According to Inside Mortgage Finance, consumers owe $11.29 trillion on their first-liens, which means $782.1 billion worth of loans are potentially at risk.

Fannie and Freddie said borrowers can qualify for a reduction or suspension of mortgage payments for up to 12 months. During this time, homeowners will not incur late fees and foreclosure will be suspended.

On Friday, Black Knight issued its relief tally: 3.7 million mortgagors in forbearance as of Sept. 8, down 66,000 units for the week. The data analytics firm noted that 2 million forbearance  plans are set to expire this month.

The FHA lowered payment history requirements for borrowers with previous forbearance to refinance their loans in order to aid the housing market. The changes are for purchase and rate-term refi loans.

Fannie Mae, Freddie Mac and Ginnie Mae issued $321.83 billion of single-family MBS last month, according to an Inside MBS & ABS ranking and analysis.

MBA's Mike Fratantoni: “The share of Ginnie Mae loans in forbearance increased again ... as the current economic crisis continues to disproportionately impact borrowers with FHA and VA loans."

The bulk of the increase in USDA lending has been driven by purchase mortgages, though refinances also increased significantly.

Securitization of purchase loans rose 16.2% from July to August, including an 18.2% increase in VA loans. FHA still accounted for the biggest share of government-insured purchase loans, 53.0% last month.