As U.S. residential lenders saw mortgage production soar on a quarterly basis, non-bank originators grabbed market share from their financial institution counterparts.

The country’s mortgage banking firms collectively originated $568 billion in home loans during the period that started on July 1, 2016, and concluded on Sept. 30.

Production accelerated from the previous three-month period, when the total was $488 billion, and the same quarter last year, when it was an upwardly revised $435 billion.

Source: Mortgage Daily