It was the second quarter in a row that Freddie Mac was allowed to keep all of the money it earned as opposed to upstreaming retained capital in excess of $3.0 billion to the U.S. Treasury, the owner of its senior preferred shares.

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Meanwhile, depository institutions shrank their Ginnie MSR by 1.9% during the third quarter.

“Despite the interest rate volatility during the quarter, our hedging strategy and portfolio performance resulted in a slight increase to our book value quarter over quarter,” said company CEO Michael Nierenberg. “In the third quarter 2019, origination volume tripled and servicing volume doubled relative to the same period last year.”

The Freddie Mac single-family servicing market grew roughly three times as fast as the Fannie Mae market during the third quarter, according to a new Inside the GSEs analysis.

Banks began reporting third quarter results and, as might be expected, negative servicing marks were quite noticeable.

The nation’s largest lender/servicer Wells Fargo drew the most gripes, with Mr. Cooper and Ocwen Financial, finishing second and third respectively.

Co-issuance transfers – a smaller market – actually increased 52.9% sequentially to $59.4 billion…

loanDepot was also an active seller of bulk MSRs in the third quarter, according to an exclusive tally from Inside Mortgage Trends…