A significant amount of wealth is expected to be transferred to younger generations in the coming years, leading to smaller mortgage amounts and a change in MBS characteristics.

Onity took a $9 million pre-tax net loss related to sales of reverse mortgages and legacy subservicing transfers, and a $24 million pre-tax net loss tied to unfavorable asset fair value changes.

Homebuying picked up in the summer months after a slower than usual spring season.

Ben Jackson, president of ICE, said during an earnings call last week that the mortgage segment will be aided by a growing artificial intelligence business.

Optimal Blue added FICO Score 10T to the platform in June.

The Senate confirmed Jay Clayton as director of national intelligence last week.

Agency MBS fundamentals have been supported by a combination of elevated mortgage rates, limited refinancing incentives, constrained housing turnover and low net supply.

Investor demand is expected to remain strong for agency MBS despite some volatility expected for the rest of the year.

Fitch ratings found that early-stage delinquencies and cumulative default rates for consumer ABS deals are higher following a servicer bankruptcy or originator wind-down.

Pennymac's net income declined 73.6% from the first quarter to the second quarter.