Originations

Boosts in purchases and cash-out refinances drove the summer turnaround, according to Black Knight.

Also: Private equity firms to buy Lereta, mortgage rates continue to fall & mortgage applications decline for a second week

Government-sponsored loans gain volume share, but overall numbers tumble to a point not seen since before the pandemic.

Also: Former Zillow execs launch mortgage fintech, housing inventory inches up as lumber prices tumble.

Even though the channel helped the bank do over $2 billion in business last year, going forward it will produce loans through the traditional retail business.

The plateau in non-depository estimates for new jobs in the field reported Friday follows anecdotal accounts of reorganization by banks and nonbanks in the past week.

The financial services company will incentivize existing card members with statement credit for taking out or refinancing a home loan with either lender.

Limited housing supply, climbing rates cause applications to decline across the board.

Also: Critical defects in mortgage files reach highest level in years, interest rates tick up

Even though volumes are expected to taper from 2020’s record highs, lenders plan to take on more employees in 2021, according to the Mortgage Bankers Association and McLagan Data.