Quicken Loans was the second largest refi lender in 2014 with $47.91 billion, according to exclusive figures compiled by Inside Mortgage Finance.

Bank of America was among the few major depositories that reported a loss in mortgage-banking income, losing $253 million in the fourth quarter.

For all of 2014, this group of banks and nonbanks earned $14.01 billion off of mortgages, a 39.6 percent drop from the year before.

At Dec. 31, depositories held $964.2 billion of pass-through securities issued by Fannie Mae, Freddie Mac and Ginnie Mae, a gain of 1.3 percent from the third quarter.

However, the broker channel generated $117 billion of new originations, the lowest reading since 1995.

Almost 71 percent of residential loans originated last year were funneled into mortgage securities. In 2013 the securitization rate was 78.5 percent.

Meanwhile, the private MIs reported just $1.24 billion of new HARP business for the fourth quarter.

Freddie Mac actually increased its monthly volume by 7.3 percent from December levels, but Fannie Mae’s production fell 15.6 percent.

Broker-originated purchase mortgages pushed the envelope a little further, with an average credit score of 719.1 and an average DTI of 37.7.

From 2005 to 2007 homeowners converted an estimated $823 billion of home equity into swimming pools, cars, hospital bills and other uses. Of course, those days are long gone.