Two Harbors booked a contingency liability and related expense of $199.9 million in the second quarter tied to litigation with the former manager of the REIT.

“We’ve been very proactive in seeing the housing market decelerate and trying to be on our front foot,” said Mike Fania, co-chief investment officer and head of residential credit at Annaly.

Rocket started offering consumer loans through its RockLoans platform in 2016, in partnership with Cross River Bank.

The average price for new homes sold in June declined by 2.0% on a monthly basis.

Loans one payment past due increased 19 basis points during the second quarter, after declining during the first quarter.

The bulk of the real estate investment trust’s assets are in agency MBS.

Credit scores are a key input in predicting prepayment speeds, which in turn affect valuations and hedge strategies.

Issuance through the first half of 2025 was up by nearly 40% compared with the first half of 2024.

While home prices are up, the average loan balance on mortgage applications is declining.

Nonbanks handled 60.7% of GSE servicing as of the end of June.