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

Mortgage originations continue to boom as lenders move to hire as many full-timers as humanly possible. One concern: A lack of operations workers.

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.

The parent company of Quicken Loans splurged $905 million on marketing last year, helping the nonbank become the second largest mortgage lender. The firm is now ready to launch an IPO.

High hopes for nonbank origination results; a trade group chief steps down for personal remarks he made online.

The book just closed on the second quarter, and it appears that many nonbank originators closed more loans than they did in 1Q20.

The nonbank took a large loss in the first quarter and halted production. Officials at the firm are now betting on originating GSE-eligible mortgages through call centers to return to profitability in the third quarter.

The financial turmoil caused by the coronavirus pandemic has prompted many seniors to consider, for the first time, a reverse mortgage.

The first quarter of 2020 marked the lowest bank earnings on mortgage banking activity since the financial crisis. A big part of the decline came from steep losses at Fifth Third and Bank of America. (Includes data chart.)