While several top jumbo lenders reported declining primary-market production in the third quarter, most sellers of agency-conforming jumbo loans saw hefty gains. (Includes three data charts.)
The FHA/VA market was more subdued, with total conforming-jumbo loans pooled in Ginnie MBS rising 16.7%. The VA program accounted for 83.0% of government-insured jumbo volume, with quarterly securitization up 17.7%.
Those top three banks increased their mortgage banking income by a combined $1.35 billion — or nearly 60% of the industry’s $2.29 billion increase during the third quarter.
Wells Fargo accounted for most of the improvement in servicing profits among a group of 14 public companies. Earnings from origination and secondary marketing remained sky-high. (Includes data chart.)
The top three banks reported a combined $2.3 billion in mortgage banking income for the third quarter of 2020, up $1.3 billion from the prior period. (Includes data chart.)
The agency MBS market is on track to securitize over $2 trillion of refinance loans and $1 trillion of purchase mortgages in 2020. Nonbanks accounted for over 70% of new issuance in recent months. (Includes two data charts.)
The GSEs saw an increase in the first-timer share of their purchase-mortgage business, while government loan programs lost ground. (Includes five data charts.)