Income from production and servicing fell in the first quarter, but not by as much as origination volume. The MBA reported fewer firms were profitable than in the previous period. (Includes data tables.)

A 65-year-old senior accountant at CCM was told that the lender was shifting to a new business model and her job was being eliminated. However, the employee claimed she was fired due to her age.

Mortgage-banking income at banks increased by 65.6% on a sequential basis in the first quarter. Losses were rare among 358 banks reporting mortgage activity in call reports, though Bank of America took a hit. (Includes data table.)