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The mortgage numbers are a welcome boost to a market that has struggled to overcome high costs and prolonged economic uncertainty.

Prior to the earnings release, Finance of America announced it was buying out Blackstone's equity stake in the mortgage lender for $80 million.

Groups like the Mortgage Bankers Association and National Housing Conference welcomed the decision to increase the secondary market for the credits.

Americans now hold $34.5T in home equity, fueling a surge in home equity loans as lenders race to capitalize on rising property values.

President Trump in an interview Tuesday morning railed against big banks for allegedly discriminating against conservatives, a notable shift in tone that puts more responsibility for the debanking debacle on banks rather than regulators.

GSE loans acquired in the period have higher loan-to-value and debt-to-income ratios and lower credit scores, which Milliman said boosted serious default risk.

Late-payment rates among U.S. borrowers rose again in the second quarter, according to a report from the New York Fed. The trend reflects a sharp increase in student loan delinquencies, which have been climbing as pandemic-era policies have expired.

The real estate investment trust this spring purchased $147 million of loans including HELOCs, completed two securitizations and closed a senior note offering.

A Texas federal court ruled that borrowers suing Mr. Cooper over its data breach in 2023 had "sufficiently alleged injury," thus refusing to dismiss parts of the case.

The fintech firm announced it has taken the first formal step in going public via the filing of a draft registration statement on S-1 with the SEC.