Despite significant erosion in conventional-conforming and jumbo lending in the third quarter, a few shops managed to boost originations. FHA/VA lending was relatively safer. (Includes two data charts.)
Publicly held banks reported a 20% decline in mortgage banking income from the second to the third quarter as more firms shift away from the originate-to-sell model. Servicing generally helped offset faltering profits on production and secondary marketing. (Includes data chart.)
Now that the purchase-mortgage market is getting squishy, agency MBS issuance may sink to its lowest level in years. New pricing from the GSEs may be offset by a potential cut in FHA premiums. (Includes two data charts.)
As a group, nonbank servicers are growing faster than depositories. But some of the biggest gains in the third quarter were by banks, and a number of nonbanks shrank their portfolios. (Includes three data charts.)
CLO issuance backed by broadly-syndicated loans held fairly steady in the third quarter, but the CRE sector tanked and refi/restructuring fell off the edge of the cliff. (Includes two data charts.)