The mortgage subsidiary of PlainsCapital Bank also said it had reduced its headcount by 23% in the past year.

The San Francisco bank tallied $2.2 billion in net operating losses, higher than in any quarter since late 2017. The charges offset what otherwise would have been a strong third-quarter performance.

Origination activity dropped quarter-to-quarter by more than prior industry estimates, however.

The non-qualified mortgage lender, hard hit by secondary market upheaval, was out of compliance for low shareholder equity and losing money five years in a row.

First American, Old Republic and Stewart did better compared to the first quarter, but all are down year-over-year, and Doma sank deeper into the red.

Additionally: FHFA adds reporting mandate for servicers and more layoffs are announced.

The company dialed back loan production activities at its call center and from mortgage brokers as interest rates continued to rise.

The REIT did not issue a securitization in the period because of the upheaval, but found a more receptive marketplace in July.

The lending and servicing giant is also amping up cost-saving efforts with more layoffs after reporting a net loss of $223.8 million in the second quarter.

In response, the company is looking to diversify its revenue stream.