Correspondents upped their share significantly in the government-insured market, while brokers took a bigger bite of nonconforming lending.

UWM, Rocket and Pennymac all sold fewer mortgages to the GSEs in November than in October. That contributed to a 1.3% monthly decline in GSE MBS issuance. (Includes two data tables.)

Several large lenders are offering discounts and promotions to drum up business during a slow time of the year.

Refis totaled $22.84 billion in October, the highest volume since June 2022 and 31.7% of all GSE deliveries for the month. (Includes two data tables.)

Pennymac was the top issuer of prime non-agency MBS in the third quarter.

The wholesale lender was released from all RICO charges, but must still face certain RESPA allegations.

While market share of small- and mid-sized nonbank lenders grew, there was some leakage at the large nonbank lenders. Large mortgage companies’ market share fell sequentially to 53.8% from 56.1%. (Includes two data tables.)

Many charges in a class action against UWM were dismissed, but some Real Estate Settlement Procedures Act claims will move forward.

Even as loan deliveries to Fannie Mae and Freddie Mac increase, the two entities continue to lose business to Ginnie Mae issuers. (Includes two data tables.)

Regulatory approval of the merged company creates the second-largest GSE seller and by far the largest GSE servicer.