Correspondent production took a bigger share of the fast-growing conventional-conforming space, while retail expanded in government lending. Wholesale-broker jumbo lending declined in the third quarter. (Includes two data charts.)
Seven publicly held nonbanks reported a combined $398 million in income from mortgage banking operations in the third quarter, ending a nine-month streak of aggregate losses. Mr. Cooper emerged on top. (Includes data chart.)
October was also unusual because the flow of VA loans into Ginnie MBS exceeded the intake of FHA loans. That’s the first month of VA supremacy over FHA since the beginning of 2017 and perhaps in Ginnie’s history.