The non-agency MBS sector faltered during the third quarter. According to the Federal Reserve, the outstanding supply of non-agency MBS fell another 2.1% from June to $452.17 billion.

S&P has steered clear of the S&D market but still ranked third overall with a 24.4% share of year-to-date non-agency MBS ratings.

The agency one-family servicing market grew 1.8% during the third quarter, more than twice the increase in total single-family mortgage debt outstanding over the same period. (Includes two data charts.)

The supply of one- to four-family mortgage debt outstanding climbed 0.8% from June to reach $11.075 trillion as of the end of the third quarter. It was the highest MDO number since June 2009.

Wells Fargo posted a 6.5% increase in repurchases from the second quarter, though its year-to-date volume was down from 2018.

GSE purchase-mortgage business cooled off, falling 4.9% from the previous month, but refi volume jumped 13.3% to $70.5 billion in November.

In general, banks and thrifts have been pulling back from the MSR market since 2009...

Most of the banking industry's decline in servicing for others was attributable to a $26 billion drop at Wells Fargo.

The industry increased profits on the production side of the aisle by pushing a higher volume of business through their platforms, reducing per-loan costs for personnel, occupancy and technology. (Includes data chart.)