Working from home is going pretty well for lenders, with some reporting increased productivity and only one out of 33 surveyed noting a reduction in profits.
Wells Fargo's huge increase in mortgage-banking income accounted for nearly all the gain reported by 19 publicly traded banks. Still, the second and third quarters of 2020 were incredibly lucrative for mortgage banking platforms. (Includes data chart.)
Flipped houses represented 6.7% of all single-family homes and condos sold in the second quarter, down from 7.5% of all sales in the prior period. (Includes data chart.)
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.)