With the Fed widely expected to reduce the federal funds rate next week, demand for agency MBS is rising. Banks are also projected to add to their holdings, though their buying might be somewhat delayed.

The retail share of first-lien originations bounced back above 50% in the second quarter. Still, in the first half of the year, third-party originations increased at a faster pace on an annual basis than retail lending. (Includes six data tables.)

Many efforts started during the Biden administration won’t move forward. But servicing reforms are still in the works at the CFPB. And the bureau is considering major changes to LO comp.

There’s speculation that the Trump administration will direct the GSEs to increase purchases of agency MBS, potentially as part of a declaration of a housing emergency. The move could help reduce mortgage rates.

The Federal Trade Commission ended the waiting period early for Bayview Asset Management's planned acquisition of Guild Mortgage.

Treasury Secretary Scott Bessent said FSOC is focused on economic growth because “regulators too often overlook the threat economic stagnation poses to financial stability.”

Initially looking to raise around $500.0 million, Figure's IPO ultimately raised $787.5 million.

“Some house hunters are staying on the sidelines because they want mortgage rates to drop more significantly before jumping in,” Redfin said.

"We launched an interest only mortgage product to fill in the market gap left by First Republic [Bank] and others," said Richard Raffetto, a senior executive vice president at Flagstar and president of commercial and private banking.

The planned $560.4 million issuance is the largest CES securitization yet from the nonbank, which started issuing deals in April.