Mortgages

In line with broader trends, the GSEs have been putting new limitations on forbearance and putting more of an emphasis on mods.

The mortgage technology unit of Intercontinental Exchange reported a return to profitability in the second quarter, as revenues continued their recent rise.

The 30-year fixed rate mortgage is at its highest point in 51 weeks with a divergence in forecasts for what happens between now and the end of the year.

So far this year, the volume of closed-end second and home equity line of credit securitizations is near last year's $29 billion, Bank of America Securities said.

The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.

The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.

Originators need to keep an eye on the 10-year Treasury yield used in pricing mortgages, which not only broke through 4.6%, climbed above 4.7% on Thursday.

House Republicans floated discussion legislative drafts aimed, in part, at strengthening the Federal Home Loan Banks' role providing liquidity to the financial system.

Economists at the government-sponsored enterprise have been lowering their single-family origination volume estimates for several months.

As written, new capital standards for U.S. banks fail to account for the additional risk posed by many home loan clients who obtain second mortgages. Fixing the problem will significantly reduce the rule's benefit to banks.

Industry economists and analysts were predicting single digit quarter-to-quarter gains, but a trio of large banks had an over 30% rise in mortgage volume.

Michael Burry, a GSE investor and early predictor of the Great Financial Crisis, is eyeing the senior preferred liquidation preference and a 2028 deadline.

Bipartisan pushback is targeting data centers with calls to eliminate tax breaks and ensure their energy consumption costs do not get passed on to residents.

The move is designed to align the two Utah-based businesses under a single unique name and comes two years after the bank acquired the home lender in 2024.

However, for the second quarter, increased home purchase mortgage activity contributed to an industry-wide 11% increase in agency securitizations, BTIG said.

OceanFirst Financial worked with an asset manager to apply the structure to a $1.5 billion portfolio of residential mortgages.

A $160 million deal to merge Hometown Financial Group subsidiaries and Primary Bank will lead to consolidation under a single brand name of TruNorth.

The Bureau of Labor Statistics report showed the labor force continued to expand but at a weaker rate than in recent months. The development weakens the case for a near-term rate hike.

This data release means another milestone for the use of updated credit score models than the current FICO Classic has been met by Fannie Mae and Freddie Mac.

The rise in completed modifications occurred as many other loan performance indicators plateaued, and may reflect the temporary impact of recent rule changes.