Mortgage banking income among banks and thrifts declined by nearly 25% during the fourth quarter of 2021. JPMorgan Chase was not immune but managed to lead the pack for the full year. (Includes data chart.)

Rocket Mortgage, the big Kahuna of home finance, was not immune from higher interest rates in the fourth quarter. Still, the nonbank is rewarding shareholders with a special dividend of $1.01.

Among a group of 21 prominent banks that have reported earnings for the fourth quarter, nearly every institution took a hit on mortgage earnings. For many, originations declined along with margins.

It’s earnings season! The early results show a mixed mortgage bag for the megabanks. The mega-nonbanks start reporting later this month.

For a year, Guaranteed Rate stuck its toe in the broker channel. Now that the origination water has turned cold, it’s leaving.

Retail lending by depository institutions' mortgage-banking operations fell in the third quarter, but a major acquisition by one bank pushed other indicators higher.

Mortgage banking income appeared to benefit from both rising gains on sale and stronger net servicing income. The top three banks reported lower earnings from mortgage banking.

Black Knight increased its earnings in the third quarter of 2021 compared with the prior quarter while Blend Labs took a loss after earning a small profit in the second quarter.

Lenders and servicers don’t see much use in blockchain technology for now; Mat Ishbia abruptly terminated a stock offering involving United Wholesale Mortgage; federal banking regulators set computer-security disclosure requirements; nCino to acquire SimpleNexus.

Most nonbanks reported significantly higher earnings from mortgage banking during the third quarter as gain-on-sale margins improved and MSR write-downs were less severe. (Includes data chart.)