“Now delinquencies are low,” said one executive, “but we think that in about two years it will be different.”

Servicing became less profitable for many lenders in the third quarter, and it was pressed to cover further deterioration in loan originations and secondary market. (Includes data chart.)

A number of nonbanks are offering home-equity loans and other products as a way to take advantage of the huge mass of mortgage debt that's unlikely to pay off early.

Despite rising rates and volatility, mortgage REITs reported a small gain in their retained agency MBS holdings. The industry’s aggregate TBA position was lower, as was non-agency MBS investment. (Includes data chart.)

With rated issuance tumbling sharply in the third quarter, only Fitch managed to boost its ABS business, while DBRS was the only rating service to show a gain in non-agency MBS. (Includes two data charts.)

The top three purchase lenders through the first nine months of 2022: UWM, Wells Fargo and PennyMac Financial...

Although purchase-mortgage originations fell 12% from the second quarter, several lenders reported increased production in the third quarter. Nearly all top lenders saw hefty declines in refinance business in the third quarter. (Includes four data charts.)

Loss mitigation is getting harder to do as higher interest rates pose affordability problems for loan modifications and borrowers are less willing to sell their homes.

TD Bank was the biggest ABS investor overall...

In 3Q22, refi accounted for just 25.6% of agency retail loans...