The U.S. operations of Banco Santander are merging the Santander Consumer USA unit into Santander Bank. Analysts believe the operations of one of the leading issuers of auto ABS are ultimately aligned.

Growth in servicing with Ginnie Mae continues to outpace Fannie Mae and Freddie Mac. Most of the top-10 agency servicers increased their portfolios during the third quarter, though not Rocket Mortgage. (Includes two data tables.)

Fannie's forecast also shifted from a modest increase in mortgage originations on an annual basis in 2027 to a 10.6% decline.

Originations declined by 12.3% from the second quarter.

The value of MBS holdings declined during the quarter as interest rates increased sharply.

First Horizon took a $473 million pre-tax loss in non-interest income on the sale of mortgages with an unpaid principal balance of $4.5 billion.

Residential mortgage originations declined in the third quarter at Bank of America, JPMorgan Chase and Wells Fargo. Even with high interest rates, servicing portfolios appear to be performing well.

BofA's originations of home equity loans increased by 2.9% from the second quarter.

Loans in the $294.1 million issuance have seasoned for an average of two months.

Mortgage applications declined by 2.7% on a weekly basis last week.