Mortgage payoffs accounted for nearly 90% of loan repurchases from Ginnie MBS in the second quarter. Early buyout activity remains constrained due to elevated interest rates. (Includes data chart.)

Downgrades of GSE CRT transactions, Freddie Mac K-deals and student loan ABS followed a downgrade of the credit rating for the U.S. to AA+.

SEC exempts MBS and ABS issuers from cybersecurity disclosure requirements; plethora of novel ABS issuance; student loan ABS defaults hit record high.

Year-to-date, UWM has booked nearly $1.4 billion in proceeds from sales of MSRs and excess MSRs.

The layoffs will result in a $33 million reduction in operating expenses on an annual basis.

Rocket has “kind of fallen off the deep end,” according to Mat Ishbia, chairman and CEO of United Wholesale Mortgage.

With employee counts shrinking and Wells Fargo exiting the correspondent channel, lenders reported an increase in margins in the second quarter.

Much of the reversal in UWM’s earnings in the second quarter was tied to changes in the value of mortgage servicing rights.

Interest rates on FHA mortgages are at levels last seen in 2002.

The National Fair Housing Alliance tracks complaints from fair housing organizations and government agencies.