The CFPB said it is stepping in to stop harmful practices used in contract for deed financing that set up homebuyers to fail.

Skyward Specialty Insurance Group launched a mortgage reinsurance business.

Radian Guaranty ranked first among private MIs in new insurance written, posting a 20.5% increase to $13.89 billion in the second quarter.

The nonbank’s origination unit took a $3.1 million loss in the second quarter after a $24.2 million loss the previous quarter.

The average interest rate for a mortgage stood at 6.73% just before the release of the jobs report last week.

Blend Labs took a $19.4 million loss in the second quarter.

The parent of Better Mortgage took a $42.2 million loss in the second quarter compared with a $51.5 million loss the previous quarter.

“We have identified a number of predatory practices, including high-pressure door-to-door sales where families are baited into expensive loans that wipe away the savings from a solar installation,” said CFPB Director Rohit Chopra.

Ready Capital sold the MSRs as part of an effort to exit investments in the residential market to put a greater emphasis on commercial loans.

Halfway through 2024, Lakeview/Bayview Loan Servicing was the leader in removals from Ginnie MBS, with $11.33 billion.