Ready Capital sold the MSRs as part of an effort to exit investments in the residential market to put a greater emphasis on commercial loans.

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

Much of the improvement in FoA’s earnings in the second quarter was tied to fair value changes.

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

The nonbank looks to have sold more MSRs during the second quarter.

“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.

The increase in sales of Ginnie MSRs was tied to bulk sales by United Wholesale Mortgage. Lakeview/Bayview Loan Servicing was — by far —the top bulk buyer of Ginnie servicing. (Includes two data tables.)

In owned servicing — which tracks the owners of mortgage servicing rights and whole-loan portfolios — the nonbank share increased from 55.9% as of the end of March to 56.9% at the end of June.

The nonbank acquired servicing with a total unpaid principal balance of $20.8 billion during the second quarter with an eye on refinances.

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