JPMorgan Chase had the most profitable mortgage-banking operation in the third quarter, with $633.0 million of income.

Combined, banks and thrifts reported $2.21 billion in mortgage-banking income during the third quarter, a slight increase from the previous period. Through the first nine months of the year, industry earnings were up 8.7% from the same period in 2023. (Includes data table.)

Banks and thrifts serviced $3.023 trillion of mortgages for other investors as of the end of September.

Only two institutions among the top five banks reported an increase in SFO in the third quarter. (Includes data table.)

Payoffs accounted for 89.1% of total loan liquidations from Ginnie MBS in the third quarter.

Loan removals from Ginnie pools was led by borrower payoffs, which accounted for 89.1% of total liquidations in the third quarter. (Includes two data tables.)

The delinquency rate on mortgages has been on the upswing this year, reaching 3.61% at the end of September, according to the Inside Mortgage Finance Large Servicer Delinquency Index. (Includes data tables.)

The total agency delinquency rate rose to 3.30% at the end of the reporting period.

Loan performance slightly deteriorated in agency mortgage-backed securities during the third quarter, with delinquencies increasing across all late-payment categories. (Includes data table.)

Some $189.08 billion of loans with insurance coverage were included in agency MBS issued in the third quarter, a 13.6% increase from the prior period.