Just how good are loan volumes these days? Answer: there’s plenty of talk about LOs earning $1 million this year and buying Teslas.

Independent mortgage companies for the first time serviced more than half of the single-family loans in agency MBS at midyear. But many high-ranked servicers saw declines in their agency servicing portfolios. (Includes two data charts.)

When it comes to origination gains, Wells Fargo and JPM took a backseat to some of their commercial banking brethren in 2Q20.

Heavy rate-term refinances and cash-out transactions accounted for much of last year's big gain in first-lien originations. Denial rates were down in nearly all categories. (Includes data chart.)

Banks and thrifts continued to cede share in the servicing of single-family MBS to nonbanks. The retained portfolios of depository institutions grew at half the rate of overall mortgage debt outstanding. (Includes two data charts.)

The overall forbearance rate is levelling off but loans packaged into non-agency MBS and those held in portfolio showed a relief-request reading of 10.18%, up 15 basis points.

While overall agency delinquency rates remained significantly elevated, the number of new loans entering the 30-day late category fell sharply from April to May.

Subservicing firms continued to grow in the first quarter, albeit at a slower pace. The reason: Coronavirus and a lack of flow deals. (Includes data chart.)

Some 4.7 million Americans are under a pandemic-related forbearance plan. However, the pace of new requests seems to have slowed.

The warehouse sector is in a historic sweet spot: Nonbanks are making money hand-over-first, while accepting the tighter underwriting requirements placed on them. (Includes data charts.)