The banking industry's aggregate portfolio of servicing for others was down slightly in the second quarter, although the top five players shed a combined $100 billion. (Includes data chart.)

The industry got no help from perennial leader Wells Fargo, but banks still posted their strongest quarterly income from mortgage banking in five years. (Includes data chart.)

Two Harbors and Front Yard recently terminated their partnerships with their respective external managers. However, Two Harbors’ refusal to pay a termination fee has landed the REIT in court.

When interest rates on mortgages increase, potential borrowers put more effort into shopping for a loan, according to a study by the Federal Reserve.

Sales of new homes increased by 13.9% in July, marking the highest jump since 2006, according to HUD.

PennyMac continued to lead nonbanks in profitability, generating a hefty $475.7 million in net income on its mortgage banking operations for the second quarter. Mr Cooper bounced back from a first-quarter loss while New Residential made strides toward recovery. (Includes data chart.)

Quicken Loans’ parent, Rocket, has revealed a $950 million revolving credit facility, with Chase serving as the administrative agent on the deal.

The second quarter of 2020 generated the strongest profits from mortgage banking that the banking industry has seen in years. MSR accounting issues were a drag, but production volume and margins soared. (Includes data chart.)

On Thursday, Rocket Companies, the parent of Quicken Loans, will debut on the NYSE. If warmly received, the mortgage IPO could pave the way for other deals.