Increases in loan loss provisions in the second quarter offset the beneficial impact of higher interest rates.

Two Harbors Investment posted $56.3 million of net income in the second quarter of 2024, a 72.3% decline from the previous quarter.

Mortgage applications declined as potential borrowers ponder where interest rates will go next.

Issuers that weren’t active in the first quarter accounted for 43.5% of the home equity securitization volume seen in the second.

Earnings at the mortgage giant stand at a three-quarter plateau, with year-to-date profits almost unchanged from 2023.

Some 4,998 mortgage-related complaints were received by the bureau in the second quarter, an 11.5% decline from the prior period.

Sarah Brundage, president and CEO of the National Association of Affordable Housing Lenders, noted that the Biden administration has given greater attention to the nation’s housing challenges than any recent administration, including initiatives to boost housing supply, provide relief for homeowners during the pandemic and tackle appraisal bias.

Prices were flat nationally in May, though they declined in four of nine regions across the country.

Wells has transitioned its tax-service functions to a third-party vendor.

Former GNMA chief Michael Bright: “Let’s say you’re going to do it. I think you’re going to have to lie to someone."