Correspondent production took a bigger share of the fast-growing conventional-conforming space, while retail expanded in government lending. Wholesale-broker jumbo lending declined in the third quarter. (Includes two data charts.)
Seven publicly held nonbanks reported a combined $398 million in income from mortgage banking operations in the third quarter, ending a nine-month streak of aggregate losses. Mr. Cooper emerged on top. (Includes data chart.)
Some lenders that were looking to throw in the towel after a rough first quarter experienced strong originations and returned to profitability as interest rates fell, putting the brakes on M&A activity.