The industry-wide servicing-for-others total was down $99.41 billion from June, a 3.0% quarterly decline. With a handful of exceptions, the banking sector has reported quarterly declines in SFO since the end of 2009.
The big question for the industry: Once production finally slows next year, will lenders trim retail and opt to use brokers since the latter only get paid if the loan closes?
Federally insured depositories added a whopping $115.23 billion to their aggregate single-family MBS portfolio during 3Q20, according to Inside MBS & ABS...
The estimated $822 billion of conventional-conforming lending set a quarterly record and represented 72.1% of the huge third-quarter wave of mortgage originations.