A slight rise in the unemployment rate in August helped to reinforce expectations that the Fed will cut the federal funds rate this month.

First Interstate Bank posted the largest loss in the second quarter, spilling $5.5 million of red ink.

As of the end of June, banks held $2.859 trillion in their servicing-for-others accounts, up 1.1% from the end of March.

The regulator, though, says no market participant can account for more than 20% of the GSEs' servicing market.

Earlier this month, MIAC came to market with a $987.0 million package of mortgage servicing rights backed by healthcare facilities.

The national delinquency rate improved for the second month in a row.

After analyzing Powell’s comments, Deutsche Bank forecasted a 25-bp reduction in September.

Jay Promisco, president at Sierra Pacific Mortgage, said agentic AI can be used to manage the entire loan process.

Most lenders will likely continue to follow existing laws and maintain responsible practices, according to a managing director at a bank’s investment division.

The new relationship will increase Two Harbors’ third-party subservicing business to $31 billion in unpaid principal balance.