In July, Rocket “restructured” general and administrative teams that supported the firm’s mortgage lending, citing investments in technology.

Insurance companies are adapting to take advantage of the closer relationships offered in the private credit market.

"The work on this has picked up significantly in recent weeks," according to Bob Broeksmit, president and CEO of the MBA.

“[The combined operations of Rocket and Mr. Cooper] allows us to be opportunistic and stick to really high expected return thresholds, that, if we can meet them, we’ll be active and we’ll bid at those levels and if we can’t, we don’t have to,” said Brian Brown, chief financial officer and treasurer at Rocket.

The MBA projects that the average interest rate for a 30-year fixed-rate mortgage will decline from 6.8% in the second quarter of 2025 to 6.6% in the second quarter of 2026.

Higher provisions for losses in the second quarter contributed to a 14.6% sequential drop in net income for the mortgage giant.

Expanded-credit MBS issuance with loans to self-employed borrowers increased by 45.3% during the second quarter.

Constructive has 165 employees and originated $840 million of loans in the first half of 2025.

“As we take the next steps to quickly and responsibly implement a VA partial claim program, we expect servicers to continue to offer Veterans a full array of loss mitigation options,” VA’s loan guaranty service said.

Lower head counts at the mortgage giant reduced administrative expenses by $145 million in the second quarter, though profits were still down 9% sequentially.