TD Bank, State Street, Northern Trust and several other banks bucked the trend and increased their ABS investment during the third quarter. But the industry's total holdings fell 1.5% from June. (Includes two data charts.)
Wholesale-broker volume in the third quarter hit its highest level since early 2008 but lost market share with a relatively modest 16.7% increase from the previous period. (Includes six data charts.)
Industry MBS holdings rose 3.6% to $1.98 trillion as of the end of September, with most of the gains coming in agency pass-throughs. Wells, Chase, BB&T and Citi all posted big gains, BofA not so much. (Includes two data charts.)
The conforming-jumbo business was booming in the third quarter, especially at Fannie and the VA. Meanwhile, the FHFA likely will boost the conforming loan limit to over $500,000 for 2020. (Includes three data charts.)
Along with the increase to the baseline limit, caps on Fannie Mae, Freddie Mac and government-insured loans in high-cost areas would also rise, to as much as $760,000…
Correspondent production is still the leading source of government-insured loans, according to an exclusive survey, but retail gained ground in the third quarter. Wholesale-broker volume was up, but its market share contracted.