Servicing

But its operating income missed estimates with servicing income and gain-on-sale margins coming in lower than expected.

The lender and servicer posted its highest pull-through weighted gain-on-sale margin in almost two years while recording modest production growth.

HPC and the MBA called on John Bell, executive director at the agency, to disclose a blueprint of the VASP program and allow for a 30-day commentary period.

Negotiations are ongoing, but the legal move ends the restraining order trial in federal court scheduled for Aug. 14.

The turnaround was due to a $42 million positive servicing mark. Even with the operating loss, it beat estimates.

A second quarter profit followed two fiscal periods in the red, but the firm had to overcome a $33 million negative mortgage-servicing rights valuation.

But its mortgage business remains a money loser, and it wasn't a great period for the acquisition target either.

Total net income at the company grew to $357 million in the second quarter, more than four times higher from three months earlier.

Hedging affected earnings available for distribution, although the company is now profitable again using standard accounting.

The mortgage company was able to move a lot closer to its goal to become a $1 trillion servicer with the expiration of the final tender offer and closing of the deal.