While production increased, mortgage-banking revenue at Western Alliance declined by 31.0%.

To this point, many of the jumbos Citi’s correspondent unit originates have been held for investment by Citi rather than delivered into the secondary market.

Flagstar is on track to sell its mortgage servicing business and third-party origination business to Mr. Cooper Group during the fourth quarter.

It’s getting difficult to project mortgage rates in the near term, putting pressure on agency MBS investors. Still, analysts at BofA Global Research maintain an overweight for holdings of agency MBS.

Hodgepodge of non-agency MBS; new commercial MBS tied to Rockefeller Center; limit-order option for lenders looking to sell into TBA MBS; Moody’s downgrades MBS issued by IndyMac in 1997.

Purchase mortgages and refis increased across the board in the agency MBS market in the third quarter, with the strongest growth seen in refis that carried primary mortgage insurance. (Includes three data tables.)

Many large banks increased mortgage production in the third quarter. Though at some banks, revenue and margins came down.

The refi boom fizzled in recent weeks as mortgage rates increased. Now it’s a waiting game for lenders and borrowers, with rates expected to go down, eventually.

TD Bank plans to sell some of its jumbo mortgages and a correspondent business to free up asset space under a new cap set by the OCC. Wells Fargo, meanwhile, appears to be nearing a release from its cap.

Fannie economists project that purchase-mortgage originations will increase by 15.4% on an annual basis in 2025.