The nonbank’s origination unit took a $3.1 million loss in the second quarter after a $24.2 million loss the previous quarter.

Spreads on MBS and ABS widened following the release of the jobs data, but spreads widened even more in corporate credit sectors.

The average interest rate for a mortgage stood at 6.73% just before the release of the jobs report last week.

Blend Labs took a $19.4 million loss in the second quarter.

Some $63.39 billion of MSR on Ginnie MBS were transferred in the second quarter of 2024, up from $24.22 billion in the prior period.

The parent of Better Mortgage took a $42.2 million loss in the second quarter compared with a $51.5 million loss the previous quarter.

“We have identified a number of predatory practices, including high-pressure door-to-door sales where families are baited into expensive loans that wipe away the savings from a solar installation,” said CFPB Director Rohit Chopra.

The lender has issued more than $4.7 billion in unrated securitizations since it started its securitization program in 2019, about $1.0 billion of which was issued in just the first six months of this year.

Ready Capital sold the MSRs as part of an effort to exit investments in the residential market to put a greater emphasis on commercial loans.

Halfway through 2024, Lakeview/Bayview Loan Servicing was the leader in removals from Ginnie MBS, with $11.33 billion.