Most nonbank mortgage lenders saw solid earnings gains from the second to the third quarter, although a few still struggled. Homebuilder affiliates as a group were more profitable in the first nine months of 2023 than they were last year. (Includes data table.)
In addition to a significant increase in CLO refinancing and restructuring, issuance of new CRE deals was up smartly in the third quarter. (Includes two data tables.)
The private MIs lost some market share to FHA and VA during the third quarter, but industry recorded a slight earnings boost. The inventory of PMI loans in default was up, as were claims paid. (Includes four data tables.)
The combined servicing portfolio of the top 50 servicers grew at more than double the rate of increase for total servicing outstanding in the third quarter.
Mortgage rates at the end of October were at their highest level since 2000, and agency MBS issuance fell 10%. It’s looking like a replay of the nosedive at the end of last year. (Includes two data tables.)
The top 50 servicers boosted their portfolios by 1.7% during the third quarter, more than double the growth rate of the overall market. A number of companies recorded much bigger increases. (Includes three data tables.)