Shrinking gain-on-sale margins also ate into earnings, with growth expected to slow for the rest of 2021.

The company attributed its second quarter loss to competitive pricing pressures and GSE-imposed charges.

The company’s $204 million in net income was down from unusual highs seen recently but still historically strong thanks to the balance between its loan channels and servicing operation, representatives said.

Delinquency concerns continue to wane as the end of forbearances is not expected to lead to a massive wave of foreclosure activity.

The company's expanded portfolio through its acquisition spree drove revenue, representatives said.

The company has been making investments in correspondent originations and servicing and “reverse” loans used by borrowers age 62 and up to withdraw home equity.

Many banks reported sharp declines in income from home loans during the second quarter. The large gains they enjoyed last year thanks to a surge in refinancing activity are unlikely to return, according to bankers and analysts.

The gain on sale in the retail channel dropped by more than half annually, as the wholesale and joint venture channel endured an even tighter squeeze due to competitive pressures

While the hot market’s actual and forecast home price gains were key drivers of Fannie’s results, they also present a challenge to the affordable housing mission that it’s working to address.

The bank saw a modest increase in net income from the first quarter, as lawsuit settlements tied to the company’s discontinued home lending business and fees regarding an anti-money laundering and securities class action suit continue to limit growth.

The REIT also reveals plans to expand in the single-family rental market with a new brand and target of $5 billion in acquisitions over five years.

The company’s results included some transitory revenue sources, including early buyouts of loans in forbearance from securitized pools, but executives plan to maintain growth over time through economies of scale.

New customer growth and increased adoption of a digital workflow by mortgage lenders resulted in better than expected results for the Intercontinental Exchange unit.

The government-sponsored enterprise's single-family credit reserve release caused earnings to spike.

The bank produced $1 billion less in originations while its gain on sale fell 49 basis points from the first quarter.

The shift to higher-margin home purchase policies helped to boost results at First American, Old Republic and Stewart.

While the unit saw a bigger increase in purchase volume compared to its competitors, net income, loan sales margins and total volume was lower compared with prior periods.

The Rhode Island bank endured a sharp decline in fee income from home loans, which had spiked earlier in the pandemic. But CEO Bruce Van Saun says the company is well positioned as the refinancing boom fades and the home purchase market becomes more important.

The bank's noninterest expenses fell by 8% in the second quarter — a sign that CEO Charlie Scharf is making progress in reining in spending that had been soaring in recent years amid heightened regulatory scrutiny. He ultimately hopes to reduce gross expenditures by $8 billion annually.

The bank's second quarter production revenue was down 32% from the first quarter, even as volume increased 4%.