Chase reported a huge increase in mortgage banking income that resulted in part from internal accounting while Wells posted a big decline due to MSR writedowns. (Includes data chart.)

The Federal Reserve cut rates by 25 basis points this week, assuring mortgage lenders strong operating conditions in the months ahead. Still, the production outlook is a bit darker for 2020.

Flagstar increased its servicing portfolio by about 50% on an annual basis as of the end of September while no other bank servicer in the top 20 posted double digit gains.