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.
Freddie upped its share of GSE single-family MBS issuance with a 7.5% increase from September, while Fannie’s monthly volume slid 3.0% last month. (Includes two data charts.)
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.)