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Nonbank brokers and lenders typically scale back after the spring homebuying season and the housing market could be particularly slow for the rest of this year.

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

The mortgage shop's net income was $36.9 million in the second quarter, up from a net loss of $37.2 million in the first three months of the year.

A Texas judge dealt the Consumer Financial Protection Bureau a setback that has changed the bureau's calculus for furthering its near-term agenda. But an ambitious Supreme Court could also call all of the bureau's final rules into question.

Government lender Plaza Home Mortgage, non-owner occupied originator Constructive Capital are seeing success in the changing environment, helped by their respective business models.

Their links to the Treasury have been considered a source of strength and still are, but less so, according to one rating agency. Others disagree.

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.

Active listings fell in July on an annual basis, while median home prices also showed signs of a downward trend, according to new data from Realtor.com.

But a Zillow economist argues that there's plenty of evidence suggesting strong GDP and job growth had more to do with the increase than what Fitch did.

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

BofA is the first large Wall Street bank to officially reverse its call amid growing optimism about the economic outlook.

The yield on 30-year securities has climbed almost 25 basis points over the past three sessions, returning it to levels last seen in mid-November when inflation was still above 7%, more than double the current rate. Ten-year borrowing costs rose to around 4.15%. 

Move-related demand was still down in the second quarter, though the analysts said they expect to see "sequential improvements in occupancy, but still far below the pandemic peaks in 2021/2022."

The company, whose core business is helping real estate agents connect with homebuyers, said it's projecting third-quarter revenue of $458 million to $486 million.

The move was "not being driven by fundamental credit, capital or liquidity deterioration at the firms," the firm said.

While financial markets wobbled after Fitch Ratings reduced the U.S. government's credit rating, analysts said the action should have little long-term impact, similar to a downgrade by Standard & Poor's in 2011. JPMorgan Chase CEO Jamie Dimon argued that Fitch's action "doesn't really matter that much."

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

The Department of Housing and Urban Development is reviewing HSBC's lending practices in certain majority Black and Hispanic neighborhoods, the bank disclosed. The regions under scrutiny include New York, Seattle and several parts of California, according to the nonprofit organization whose complaint prompted the investigation.

But the senior housing portfolio is starting to show signs of significant stress, causing the multifamily sector's delinquency rate to rise by 200% year-over-year.

Volumes were driven down largely by slowing conventional purchase activity resulting from ongoing interest rate and affordability challenges, the Mortgage Bankers Association said.