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

UWM took in net proceeds of $2.4 billion from MSR sales in the first half of 2024.

Nonbanks increased their contributions to prime non-agency MBS issued in the second quarter as Chase pulled back somewhat.

The REIT associated with Angel Oak Companies reported a small loss in the second quarter after posting a profit in the first quarter.

Holdings of both mortgage-backed securities and mortgages rose in the quarter, with MBS totals up 5.9% and mortgages up 4.1%.

“Our biggest concern is that the market sell-off becomes a self-fulfilling prophecy causing corporate CEOs to cut back on investments and consumers to pull back on spending leading to further cuts and a recession,” analysts at Morningstar DBRS said.

“We consider ourselves the most optimistic company in America,” said Varun Krishna, CEO of Rocket Companies.

At the end of June, large nonbanks accounted for 39.0% of all government-sponsored enterprise servicing, up from 37.6% in March.

Nierenberg was asked during the call if Rithm is still considering spinning off Newrez. “Yes,” he said. “I don’t know if it’s just a direct listing or something. We’re looking at anything and everything as a way to increase value for shareholders.”

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.