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The non-qualified mortgage company allegedly failed to follow through on approximately $38 million it contractually agreed to buy.

Servicing income and cost cutting bolstered the company's earnings, but not enough to prevent a reduction compared to comparable quarters.

The Tennessee-based originator is now a private-label retail group, which has branches in Alabama and Kentucky in addition to its home state.

Refinances inched up 2% as interest rates dipped, but accounted for only 31% of activity, compared to two-thirds a year ago.

Equifax said some consumer credit scores were changed because of a computer error that has since been rectified.

But many expect only a slight increase in completions, with the rate at which delinquent mortgages cure outperforming the historic average, according to Auction.com.

Equifax provided inaccurate credit scores on millions of U.S. consumers looking for loans, The Wall Street Journal reported, citing bank executives and people familiar with the matter it didn't identify. 

But private-label securitization issuance this year is expected to be lower than 2021's activity.

CEO Michael Nierenberg hinted at an upcoming partnership, as the rebranded New Residential reported a quarterly loss from residential mortgages plus management internalization costs.

Even though delinquency rates were previously at extremely low levels, the recent uptick among poorer consumers is worth monitoring, New York Fed researchers said.