“Our biggest concern is that the market sell-off becomes a self-fulfilling prophecy causing corporate CEOs to cut back on investments and consumers to pull back on spending leading to further cuts and a recession,” analysts at Morningstar DBRS said.

Acra is owned by HPS Investment Partners, New York. The lender started out life as Citadel Servicing...

The nonbank acquired servicing with a total unpaid principal balance of $20.8 billion during the second quarter with an eye on refinances.

“We consider ourselves the most optimistic company in America,” said Varun Krishna, CEO of Rocket Companies.

Rate cuts are coming, but they might not be that helpful for mortgage companies in the short term.

Onity stressed that both its originations and servicing segments were profitable on a pre-tax basis.

Nierenberg was asked during the call if Rithm is still considering spinning off Newrez. “Yes,” he said. “I don’t know if it’s just a direct listing or something. We’re looking at anything and everything as a way to increase value for shareholders.”

GSE purchase-mortgage volume — both with private mortgage insurance and without private MI — increased at a faster pace in the second quarter of 2024 than FHA purchase-mortgage business.

At mid-year, Newrez owned $596 billion of servicing rights with an additional $214 billion of subservicing contracts on its books.

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