Nonbanks continued to amass agency servicing market share in early 2021 as many depository institutions allowed their portfolios to shrink.

As might be expected, the move rattled lenders who are now trying to figure out the ramifications of a patch-less mortgage world...

What some may have forgotten: Last fall, NRIC submitted a confidential S-1 on its mortgage banking affiliate NewRez but the IPO never came off...

Missing from these calculations are two recent attempts by Caliber Home Loans to sell product — large offerings that were later yanked as the nonbank negotiated its sale to New Residential Investment Corp.

According to figures compiled by Inside Mortgage Finance, Better – which is just five years old – ranks 36^th among all home originators.

However, the revised regulation never saw the light of day —  it was stayed a day before implementation by a federal court in Massachusetts. Since October, the future of the rule has been in limbo.

Owned by Lone Star Funds, Caliber late last fall filed to go public but the IPO has been on hold for undisclosed reasons. Meanwhile, NRIC also said this morning that its previously announced IPO of NewRez will proceed.