Much of the improvement in FoA’s earnings in the second quarter was tied to fair value changes.

UWM took in net proceeds of $2.4 billion from MSR sales in the first half of 2024.

The nonbank looks to have sold more MSRs during the second quarter.

“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.”