Issuance of new ABS through the first nine months of 2021 was up 38% from the same period last year and already the highest annual output since 2007. (Includes two data charts.)

Although a handful of large banks took advantage of willing sellers to boost their agency MSR holdings, nonbanks continued to expand their footprint in the market. (Includes two data charts.)

Commercial banks continue to show no love for MSRs, except for JPMorgan Chase...

However, removals for loan modification or foreclosure processing edged up 2.2% to $11.14 billion in the third quarter.

MBS guarantee fee pricing has become more level between the two GSEs since the uniform MBS was launched in 2019...

Most of the major bulk buyers recorded big gains during the third quarter. Ocwen Financial closed some $57.22 billion of bulk purchases...

Freddie captured a larger share of GSE sales from a number of top sellers in the third quarter, nearly matching Fannie in single-family MBS issuance. Fannie lost ground in the purchase-loan sector.

Rocket Mortgage sold over $40 billion of agency MSRs during the third quarter in one of the busiest servicing-transfer markets ever. Ocwen Financial, Freedom Mortgage and a trio of banks were among the buyers.

Rocket sold $40.85 billion of agency MSRs during the third quarter after sitting out the prior period...

Prime non-agency MBS issuance jumped 51.9% from the second quarter to $26.58 billion in the third. Some $14.91 billion came from deals backed by traditional jumbo loans that exceed agency loan limits...