Led by Rocket Mortgage, the $4.6 billion earned by nine nonbank lenders in the fourth quarter of 2020 topped the $3.6 billion in mortgage banking income reported by 20 banks. (Includes data chart.)
Although production and loan sales fell in the fourth quarter, 2020 was a banner year for mortgage banking operations at commercial banks and thrifts. (Includes two data charts.)
After an anomalous spike in the third quarter, bank repurchase volumes returned to normal levels in the final three months of 2020. (Includes data chart.)
Banks reported $22.5 billion in mortgage banking income in 2020, according to call reports. Long-time industry leader Wells Fargo had a rough ride. (Includes data chart.)
Most publicly held banks reported substantial declines in mortgage banking income in the fourth quarter. But earnings for the full year were stellar, up about 78% from 2019. (Includes data chart.)
Banks and credit unions increased their mortgage production from the second to the third quarter, but not nearly as fast as state-licensed nonbanks. (Includes data chart.)
Researchers at the think tank focused on the presence of appraisal bias during refinancing transactions because such loans “lack an arm’s length transaction.”