pmuolo@imfpubs.com, sclark@imfpubs.com 

Rocket Companies, according to a new filing with the Securities and Exchange Commission, has priced $2 billion of five-year senior notes and an additional $2 billion of eight-year senior notes. The debt pays “private” investors 6.125% and 6.375%, respectively. Initially, the paper is backed by Rocket, but eventually the obligations will fall on Redfin and Mr. Cooper, two firms that the nation’s third-largest home lender (according to Inside Mortgage Finance) is in the process of acquiring…

The ICE Home Price Index for May is out and the news isn’t necessarily pretty unless you’re looking to purchase a house. “On a seasonally adjusted basis, prices fell by -0.01% in the month, the first decline in this metric since 2022,” the company said. “Condos were the first to turn, with prices now down nearly a full percentage point from the same time last year”…

The Federal Reserve has launched its 2025 census of finance companies and what it calls “other lenders.” The study is a key part of the Fed’s effort to produce data on the types and volumes of financing provided by nonbanks to households and businesses…

A new analyst report on mortgage REIT Dynex Capital notes that mortgage-backed security spreads over swaps are 200 basis points. The research, penned by BTIG, notes that long-term rate swaps have stayed especially “dislocated versus Treasuries” since Liberation Day, the latter a reference to President Trump’s tariff war.

AT PRESS TIME: Covius Services said it signed a definitive agreement to acquire Title365 Holding Co. from mortgage tech vendor Blend Labs. No purchase price was disclosed. 

IN CASE YOU MISSED IT: The Consumer Financial Protection Bureau recently withdrew two outstanding proposed rules tied to data broker oversight and electronic fund transfers. The bureau is also rescinding its nonbank repeat offender registry. For more information, see Inside the CFPB.

It’s a Snap to Drill Into the HMDA Data

The IMF HMDA Dashboard — recently released with new 2024 data — allows you to easily drill into the rich data collected under the Home Mortgage Disclosure Act to learn about the business at nearly every company making mortgage originations — and it’s as easy to use as it is powerful. This interactive tool allows you to sort through the data with filters for loan purpose, type, property type, secondary-market purchaser, type of lender, geography and much more … and it’s a snap to export your results to Excel, PowerPoint or other tools for further analysis or sharing. Take a brief tour to see the interactive tool at work.