Despite lackluster new origination volume in the third quarter, most nonbanks reported solid gains in production-related income. Many of them needed it to offset sharp declines in servicing income. (Includes data table.)

Mortgage Guaranty Insurance Corp. remained the top producer among the private MIs.

Banks increased their holdings of agency MBS during the third quarter, although investment in Ginnie Mae pass-throughs fell. The industry also pulled back a bit from non-agency MBS. (Includes two data tables.)

Formation of GSE Supers securities returned to more normal levels, equaling roughly 56% of Freddie/Fannie uniform MBS production in the third quarter. Ginnie set the pace in agency REMIC issuance. (Includes two data tables.)

Government-insured production declined slightly during the third quarter, while new business for private mortgage insurers was up 3.8%. (Includes four data tables.)

Sellers are looking to sell mortgage servicing rights before yearend, but at their price, not the buyer’s price.

Rate-term refi deliveries to agency MBS more than doubled on a monthly basis to $25.37 billion in October.

Production and sales revenue lifted mortgage-banking income at a number of banks in the third quarter.

Although most of the large banks reported substantial increases in mortgage-banking income, many mid-size institutions struggled in the third quarter. (Includes data table.)

The agency market is responding to the decline in mortgage rates since early September with rate-term refinance business doubling in October. ARMs and 15-year loans are also surging. (Includes two data tables.)