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.

Issuers that weren’t active in the first quarter accounted for 43.5% of the home equity securitization volume seen in the second.

Earnings at the mortgage giant stand at a three-quarter plateau, with year-to-date profits almost unchanged from 2023.

Some 4,998 mortgage-related complaints were received by the bureau in the second quarter, an 11.5% decline from the prior period.

Sarah Brundage, president and CEO of the National Association of Affordable Housing Lenders, noted that the Biden administration has given greater attention to the nation’s housing challenges than any recent administration, including initiatives to boost housing supply, provide relief for homeowners during the pandemic and tackle appraisal bias.

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.