“With the surge in mortgage production volume in the third quarter, net production profits among independent mortgage bankers increased, surpassing 200 basis points for the first time since the inception of MBA’s report in 2008. Soaring production revenues – led by strong secondary marketing gains – drove these results and more than offset an increase in production expenses.” --MBA Vice President of Industry Analysis Marina Walsh, CMB.

The Federal Housing Finance Agency said Fannie Mae and Freddie Mac will extend the moratoriums on single-family foreclosures and real estate owned (REO) evictions until at least January 31, 2021.