The estimated $822 billion of conventional-conforming lending set a quarterly record and represented 72.1% of the huge third-quarter wave of mortgage originations.

While early-payment default rates showed bigger declines, the rate for loans in the most serious delinquency categories remained relatively high. Across all three agencies, 2.92% of loans were four months or more past due, down slightly from the previous month.

Year-to-date production, $1.852 trillion as of Halloween, was up 131.5% from last year. It’s a foregone conclusion that Fannie and Freddie this month will top the current $1.912 trillion annual record for GSE MBS issuance set back in 2003.

For its part, Fannie has stayed away from new CRT issuance other than some reinsurance transactions...