Mat Ishbia, president and CEO of United Wholesale Mortgage, said management at Two Harbors is “maybe playing some games” in opting to be acquired by CrossCountry Mortgage rather than by UWM.

The improvement was largely tied to changes in the value of mortgage servicing rights.

Earnings were depressed for both production and servicing.

Much of the decline in servicing income was from valuation-related losses for mortgage servicing rights.

Issues stemming from the war with Iran helped to push interest rates on mortgages up last week.

"Mortgage rate volatility, higher than expected refinancing activity and elevated FHA delinquencies pressured near-term performance," said Glen Messina, chair, president and CEO of Onity Group.

Elena Babinecz, a shareholder at the law firm of Baker Donelson and a former deputy assistant director at the CFPB, advised financial entities to “stay the course” on fair lending under ECOA, except for when it comes to special purpose credit programs.

While UWM has repeatedly raised its bid price and made other concessions, Two Harbors has opted to move forward with an acquisition by CrossCountry Mortgage.

AD Mortgage study finds AI use in mortgage is rising; Progressive Insurance has expanded itis down payment assistance program; nearly one in five homes went pending within seven days in February; Blend launches Autopilot MCP.

“There’s probably more capital out there than what can truly trade on the MSR side,” said Chris King, a senior vice president of MSR channels at Rocket Mortgage.