Secondary

Community banks could be the answer to increase the supply of non-agency mortgage products in the secondary market, said Steve Thomas of FutureWave Finance.

The agency has a proposed repeal in place, getting ready to be made public on July 28, which would rescind another Biden-era fair housing policy.

Mortgage profits improved on both a quarterly and annual basis, but leaders said low housing affordability and industry competition remain obstacles to growth.

Given FHFA Director Bill Pulte's history of making regulatory pronouncements via X, some theorize the release of Fannie Mae and Freddie Mac could occur in the same way.

The Long Island-based company's second-quarter net loss was the seventh consecutive quarter in which it has reported a net loss. CEO Joseph Otting remained optimistic Friday about the bank's future, saying it should return to profitability in the fourth quarter.

Eagle Bancorp in Maryland took a major quarterly loss due to challenges in its office loan portfolio. It's one of many banks working to trim down their commercial real estate loan books.

The case pitted high-profile senior-tranche investors like PIMCO against junior bondholders the interpretation of contracts that predated later policy changes.

Habib's placement on the Fannie Mae board comes after he criticized Federal Reserve Chairman Jerome Powell in a Linkedin post.

Choppy market conditions, including mortgage rates which remain elevated, had an impact on profitability at four of the nation's homebuilders in the quarter.

Mr. Cooper's Q2 profit surged on servicing gains, despite missing estimates, as it preps for Rocket deal and eyes MSR growth with new client wins.