Retail platforms benefited the most from a huge increase in agency refinance business from the first to the second quarter. First-time buyers held on in a precarious housing market. (Includes two data charts.)
Banks and thrifts reported significant declines in mortgage originations and loan sales during the first quarter of 2020, but they ended the period with a huge pipeline of pending secondary-market activity. (Includes data chart.)
The nonbank took a large loss in the first quarter and halted production. Officials at the firm are now betting on originating GSE-eligible mortgages through call centers to return to profitability in the third quarter.
The first quarter of 2020 marked the lowest bank earnings on mortgage banking activity since the financial crisis. A big part of the decline came from steep losses at Fifth Third and Bank of America. (Includes data chart.)