Most lenders reported significant improvement in servicing profitability that was driven by MSR markups. But results varied greatly on the production side, where lenders that rely on TPO channels fared much better. (Includes data tables.)

The decline in retail origination at banks and thrifts came even as overall originations increased slightly from the third to the fourth quarter. (Includes two data tables.)

For the full year, though, total bank repurchases declined to $1.02 billion, down 23.8% from 2023. (Includes data table.)

For many years, when households couldn’t afford to pay all their bills, they prioritized their auto loan payments. But as home prices have soared, mortgage payments have taken precedence.

The jump in refinance business, and a shift from cash-out to rate-term transactions, changed the credit-risk profile for Fannie and Freddie in the fourth quarter.

Commercial banks and savings institutions reported another decline in the volume of mortgages they repurchased in the third quarter of 2024. PNC Bank accounted for the largest chunk of the bank industry’s repurchases, at 11.3%.

The correspondent channel’s share of originations increased for both conventional-conforming loans and nonconforming mortgages in the third quarter, according to a survey of lenders. Meanwhile, brokers gained share in the government-insured market. (Includes two data tables.)

Combined, banks and thrifts reported $2.21 billion in mortgage-banking income during the third quarter, a slight increase from the previous period. Through the first nine months of the year, industry earnings were up 8.7% from the same period in 2023. (Includes data table.)

Sales of mortgages by banks increased by 20.5% in the third quarter even as the top bank reduced its sales. Eight of the 10 top banks boosted their sales from the second quarter. (Includes two data tables.)

Regulators warn that there is no exemption in fair lending laws for advanced technology.