JPMorgan remained the top bank in earnings from its mortgage banking operations after a sharp increase in the third quarter. Its nearest rivals, U.S. Bank and Wells Fargo, both reported declining income. (Includes data table.)
Non-agency CMBS issuance was up in the third quarter, thanks to a gain in retail-property securitization. But agency multifamily MBS production slumped.
Nearly 90% of loan liquidations in Ginnie MBS resulted from borrower payoffs in the third quarter, with most of them linked to MBS issued in 2020 and 2021.
Vehicle ABS issuance reached a record $46.5 billion in the third quarter, and that doesn't count rental-fleet financing. But a sharp decline in auto-dealer floorplan securitization led to a slip in business ABS production. (Includes three data tables.)
The GSEs saw an uptick in uninsured mortgage business from the second to the third quarter, while FHA purchase and refi volume surged. (Includes three data tables.)