If not for the surge in originations and refi income, the delinquencies and defaults seen this spring could have caused some mortgage companies to fail, according to Federal Reserve Governor Michelle Bowman.

We’ll never seen another quarter like 3Q20 again, right? Not so fast. Nonbank managers report that business is hardly slowing as 2020 winds down.

Conventional-conforming production accounted for a whopping 72% of first-lien originations during the third quarter. Government lending also boomed, but non-agency was down. (Includes two data charts.)

The CEOs of Freedom Mortgage and Caliber Home Loans said nonbanks, which face heavy criticism from regulators, don’t necessarily have a riskier business model than depositories.

Servicing advisors are using the phrase “green shoots” to describe what looks like a revival in MSR sales. But don’t pop the champagne quite yet.

Industry attorneys said a Biden administration may run into legal hurdles if it wants to make substantial changes to the proposed QM rule. The bureau may have to restart the process from scratch.

As originations surge, the mortgage employment picture continues to brighten — that's good news for the rank-and-file but potentially bad news for the C-suite.

When nonbanks thrive, their financiers thrive as well. In 3Q20, warehouse commitments continued onward and upward. (Includes data chart.)

A mortgage boom for the ages? So far this year, Rocket (Quicken Loans) has outearned one GSE and is within striking distance of the other.

Mortgage professionals should ensure social media endorsements, online advertisements and other “virtual” marketing services comply with anti-kickback provisions.