Mr. Cooper will pay $1.4 billion for Flagstar Bank's servicing portfolio and third-party originations platform.

Issuance grew 2.8% on a sequential basis to $9.62 billion in the second quarter of 2024.

Pre-tax income in the servicing segment hit $354 million in the second quarter, including a mark-to-market gain of $68 million.

The real estate investment trust’s gains on derivatives weren’t enough to overcome losses on investments.

“Improvements in problem resolution and satisfaction with digital channels are the primary drivers of this year’s higher scores,” J.D. Power said of servicer satisfaction.

Much of the second-quarter gain came from securitization of home equity loans and deals backed by distressed mortgages.

PennyMac's board boosted the second-quarter dividend 50% to 30 cents a share.

Some proposals that were planned for the spring or summer are now not expected until December.

The disclosures include VantageScore scores from all three credit reporting companies — TransUnion, Equifax and Experian.

A decline in interest rates wasn't enough to help push up applications of purchase mortgages last week.