“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.

Two Harbors Investment posted $56.3 million of net income in the second quarter of 2024, a 72.3% decline from the previous quarter.

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.

Prices were flat nationally in May, though they declined in four of nine regions across the country.

Goldman has an ABS with home improvement loans and Kiavi Funding is offering a rated RTL securitization.