Growth at Lakeview and Chase Home Finance finally toppled Wells Fargo as the largest agency servicer.

Although new issuance of NPL/RPL deals continues to decline, production of non-agency MBS backed by newly originated loans rose smartly in the third quarter, along with gains in securitization of home-equity products. (Includes three data charts.)

Lakeview is consistently one of the biggest players in the secondary market for agency MSR, but Chase and Mr. Cooper both recorded bigger gains during the third quarter. (Includes two data charts.)

The structured finance market produced $396.17 billion of new issuance in the third quarter, down 4.5% from the second quarter.

Mortgage lenders delivered $282.16 billion of first-lien home loans into the agency secondary market during the third quarter of 2023, a modest 2.3% increase from the prior period, according to a new ranking and analysis by Inside Mortgage Finance.

Ginnie Mae continued to flex its muscles in the agency single-family MBS market, while non-agency issuance posted a strong third quarter. (Includes three data charts.)

Most of the gain in agency business was at Ginnie Mae as the data show a migration of lower-score borrowers from Fannie and Freddie to the FHA market. (Includes two data charts.)

Among the top 100 lenders, banks accounted for 30.9% of originations in the second quarter, up from a 29.9% share in the first quarter.

Chase increased the agency MBS in its trading accounts by $11.20 billion during the second quarter, boosting its total to $86.52 billion.

GSE-related buybacks increased by 2.3% on a quarterly basis.