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.

Agency MBS investors are looking forward to the Fed cutting interest rates twice this year. However, they warned that something unexpected could prevent the Fed from cutting rates in September.

The volume of loans removed from Ginnie MBS increased by nearly 20% in the second quarter, driven by borrower loan payoffs. (Includes two data tables.)

Fitch generally views the deals as “credit neutral” for bank ratings, though there are some instances where CRT usage could put a bank’s ratings at risk for downgrade.

The nonbank share of owned servicing increased from 55.9% as of the end of March to 56.9% at the end of June. Much of that growth was driven by large firms, which are gobbling up MSR and subservicing. (Includes three data tables.)

The servicing acquisition from Flagstar puts Mr. Cooper’s pro forma portfolio at the end of June at about 31% higher.

Rate cuts are coming, but they might not be that helpful for mortgage companies in the short term.