Mortgages

While the share is slightly lower than at the start of 2023, the market is not expected to slip back to lower pre-pandemic levels, CoreLogic said.

Lenders reported a net loss of $534 on each loan they originated in the last quarter, an improvement from the $1,972 loss per loan the quarter prior.

The average for a 30-year home loan marked the fourth straight week of increases, according to Freddie Mac.

But overall volume is still expected to be 38% lower than 2022's commercial real estate originations, as higher interest rates remain a drag.

Industry executives coming off a tough year are wondering what the transition will cost and how many borrowers it'll bring in.

UBS Group AG agreed to pay $1.44 billion to settle a case with the U.S. Department of Justice regarding how it handled residential mortgage-backed securities. 

With prices continuing to increase and the conforming 30-year mortgage rising above 7% in July, the purchase market is in a holding pattern, Black Knight said.

A shortage of listings has pushed up prices, boosting the total value of US homes to a record $47 trillion, Redfin reported. 

Repossessions registered both monthly and annual increases, though, according to Attom.

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