Nonbanks reported a massive $1.38 million decline in mortgage-banking income during the third quarter. Most of that was because of accounting issues related to servicing.
MGIC saw a significant gain in market share during the third quarter, but private MIs overall lost ground to FHA and VA due to surging refinance activity. (Includes four 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%.
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.)
JPMorgan Chase reported a $44 million increase in mortgage-banking income during the third quarter of 2024. Twenty-five other publicly traded banks boosted their combined mortgage banking earnings by $13 million. (Includes data table.)