Not only are large nonbanks contemplating IPOs but smaller shops are as well. With mortgage banking considered a cyclical business, will it end badly or is it different this time around?

Nonbanks continued to account for over half of mortgage originations in a primary market that soared to $975 billion in the second quarter. (Includes data chart.)

If you thought the second quarter was a barn burner for loan production, just wait until you see the results for the third quarter. Across the board, executives are predicting stellar results.

The origination boom has afforded mortgage bankers record volumes and profits but it has also created an unforeseen headache: underwriters asking for salaries of $150,00 or more. Plus signing bonuses.

Several top lenders reported declines in purchase-mortgage lending and increased refi activity in the second quarter. Agency MBS data suggest a modest recovery in July and August. (Includes four data charts.)

Veterans United’s data show refinances among millennial veterans grew by 603% in the first three quarters of fiscal 2020.

The number of loans in the most severe stages of delinquency continued to climb in August, but overall default rates and forbearance counts were down.

The purchase-mortgage share of loans sold to Fannie, Freddie and Ginnie gained slightly in August, and there was some rebound in correspondent activity.

When it comes to warehouse lending, conditions have never been better. Credit the pandemic and the Federal Reserve. (Includes data chart.)