John Bancroft

Some $93.98 billion of non-agency MBS was issued year-to-date through September, putting the market on track for its best year since 2021.

Bulk sales of agency mortgage servicing rights shifted to prepayment-protected coupons of 4% or less, while transfers of refinance-rich MSR slowed. (Includes three data tables.)

One busy seller of mortgage servicing rights was CMG Mortgage of San Ramon, CA...

Fifteen banks tracked by Inside Mortgage Trends said their mortgage-banking income declined from the second to the third quarter.

Some $30.44 billion of multifamily loans went into commercial MBS issuance in the third quarter, a 46.1% increase from the second quarter.

Rate-term refinances fueled most of the increase in agency single-family MBS issuance last month, but the wave may already be running out of propulsion. (Includes two data tables.)

Fannie Mae had the biggest monthly gain in total production among the three agencies, which raised its share of agency MBS issuance in October two percentage points to 27.3%.

Government mortgage insurance programs captured most of the primary MI gain in the third quarter.

Most of the damage came at Rocket Mortgage and Rithm/Newrez, which took hits on the asset value of their MSRs.

Portfolio management of the Federal Reserve’s agency MBS holdings accounted for much of the Fannie/Freddie Supers issuance in the third quarter. (Includes two data tables.)