Servicing for others by banks and thrifts was nearly unchanged in the third quarter at $3.14 trillion as MSR fair values rose to a historic high of 1.65% of the underlying servicing volume. (Includes data table.)

Lenders gravitated toward lower loan-to-value ratios and higher credit scores with their deliveries to the GSEs in the third quarter.

Most of the increase in bulk MSR transfers in the third quarter came from Mr. Cooper’s acquisition of Home Point Financial’s portfolio. But coissuance activity increased more than total agency MBS issuance. (Includes three data charts.)

Delinquencies on securitized mortgages increased in all parts of the agency market during the third quarter. The increase was concentrated in early-stage delinquencies. (Includes data chart.)

Banks and thrifts increased their holdings of mortgages they intend to sell by nearly 10% during the second quarter. Both originations and loan sales increased during the quarter. (Includes two data charts.)

ICE says its merger with Black Knight will lead to solutions that simplify the mortgage experience for investors, lenders and borrowers.

Credit unions produced $53.31 billion of mortgages in the first half of 2023, a 52.9% decline from the same period a year ago. (Includes data chart.)

California had more than double the amount of originations by nonbanks in 2022 compared with any other state. The refi share of originations by nonbanks in California was also elevated. (Includes data chart.)

Overall, mortgage-banking income at banks increased by 8.7% from the first to the second quarter, though income declined at several top banks. (Includes data chart.)

Artificial intelligence can cut down on “stare and compare” tasks. But mortgage originations are so complex, and anxiety-provoking for borrowers, that humans are essential.