Officials at Doma, which is set to go public via a special purpose acquisition company maneuver, said the company might not be profitable until 2023.

Most publicly traded nonbanks saw declines in origination gain-on-sale margins in the first quarter as the market evolved toward normalcy. Several companies offset declining production income with better performance on servicing. (Includes data chart.)

Sterling Bancorp recently reached a $12.5 million settlement for allegedly violating the Securities Act. The company is now ready to turn the page on its non-agency past.

It would appear mortgage job security is at an all-time high these days. Credit the pandemic and lower interest rates.

A group of 21 banks reported a combined $3.75 billion in mortgage banking income for the first quarter of 2021. While that was a modest 1.7% gain from the fourth quarter, it represented a huge 63.3% gain from the first three months of last year. (Includes data chart.)

The smart money says it’s time to buy MSRs again. Meanwhile, Texas Capital Bank tries to figure out its future.

Rates are rising and that means fewer applications. Yet, mortgage bankers and brokers are still hiring.

With refi business expected to decline later this year, a number of shops are rethinking their hiring plans. Lenders are set to face margin compression, excess capacity and consolidation.

Despite profit margins that continued to decline, lenders reported robust earnings from their loan originations and secondary market in the fourth quarter. (Includes data chart.)

Led by Rocket Mortgage, the $4.6 billion earned by nine nonbank lenders in the fourth quarter of 2020 topped the $3.6 billion in mortgage banking income reported by 20 banks. (Includes data chart.)