Despite lackluster new origination volume in the third quarter, most nonbanks reported solid gains in production-related income. Many of them needed it to offset sharp declines in servicing income. (Includes data table.)

Pennymac asked the Financial Accounting Standards Board to clarify accounting practices involving mortgage servicing rights and recapture assumptions. The effort has support from some major MSR buyers who are looking for a level playing field.

After originating HELOCs on its own as a proof-of-concept, Figure Technology Solutions is now largely facilitating originations and loan sales for others, charging fees along the way. The company generated $89.8 million of net income in the third quarter.