BofA no longer reports mortgage earnings separately in its quarterly results. Residential finance is housed in the company’s community banking division, which reported net income of $3.3 billion in 3Q19, a slight gain from the prior period.

Industry analysts attribute the rise to a search for yield by investors along with increased acceptance of non-QMs in the investor community.

The megabank – a bellwether for the residential finance industry – also reported that mortgage banking income fell 38.5% sequentially to $466 million...

The VA program saw the sharpest spike in refi activity, shooting up 69.7% from the second quarter.

Expanded-credit MBS issuance (the sum of nonprime and Alt A) hit $9.90 billion in the third quarter, a 60.8% jump from the previous period.

There's a strong demand out there for mortgage processors, but overall, residential-related hiring has been tepid...

On purchase mortgages, African-Americans were denied 17.5% of the time compared to 8.0% for non-Hispanic whites…

The FHA program saw the slowest gain in FTHB business, up just 13.6% from the previous period…

Overall, banks and thrifts sold $165.10 billion through their mortgage banking operations during the second quarter, up 34.5% sequentially…

The gain in retail market share came at the expense of both correspondent and wholesale-broker originations.