The unit started issuing jumbo mortgage-backed securities mid-2024.

Nomura has issued a handful of other non-agency mortgage-backed securities in recent years.

UWM is offering conforming-mortgage pricing for certain mortgages with balances up to 1.5% above the current baseline conforming loan limit.

"By rethinking the role of the master servicer, we see significant opportunities to expand our platform and deliver long-term value to clients," said Shane Ross, head of servicing for Newrez.

The Fed will have a new governor in place as it considers monetary policy this week and Fed Governor Lisa Cook will also remain in place.

PRMI is a portfolio manager founded in 2019 with ties to Merchants Bank of Indiana.

The average interest rate on a 30-year fixed-rate mortgage declined by 15 basis points in the past week.

The group of servicers handled $1.51 trillion of jumbos at the end of June, up 0.7% from the end of March.

Over the last five years, the share of non-U.S. citizens in the non-agency mortgage-backed security market more than doubled.

"We launched an interest only mortgage product to fill in the market gap left by First Republic [Bank] and others," said Richard Raffetto, a senior executive vice president at Flagstar and president of commercial and private banking.