The pending issuance is the second-smallest HELOC securitization from the firm this year.

Locks for refis plummeted in November following a rise in interest rates.

Among the top 20 Ginnie issuers in November there were just two federally insured depositories: U.S. Bank and Navy Federal.

Declining interest rates through September helped increase the flow of both purchase mortgages and refinances into Ginnie MBS in November. Issuance increased by 10.1% on a monthly basis, and growth in FHA refi business outpaced VA refi activity. (Includes two data tables.)

The retail channel accounted for 50.8% of total first-lien originations in the third quarter of 2024, down from a 53.3% share in the second quarter.

While layoffs aren’t increasing, new entrants and individuals who lose jobs are having a more difficult time regaining employment.

“Companies with stronger franchises and ample levels of capital continue to sacrifice some profitability to increase market share, keeping pressure on weaker competitors,” according to Moody’s Ratings.

UWM's debt offering priced with an interest rate of 6.625%.

Growth in securitizations of home equity loans slowed in the third quarter from an exponential pace earlier in the year. Still, issuance was up, with Rocket leading the way. (Includes two data tables.)

An affiliate of Proprietary Capital won some significant rulings this week in a lawsuit against Mr. Cooper. The dispute involved early buyouts from Ginnie Mae MBS.