Prices were flat nationally in May, though they declined in four of nine regions across the country.

The maneuver — which results in an overall reduction in available equities — can provide a company a second lease on life.

Originations in the first half of 2024 increased by 4.1% compared with the first half of 2023.

The lender ranked 35th in the industry in terms of originations in the first half of 2024, according to Inside Mortgage Finance.

Mr. Cooper's servicing portfolio will hit an unpaid principal balance of $1.56 trillion following its acquisition of servicing from Flagstar Bank.

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

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

“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.

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.