MSR

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million.

With long-term interest rates at historic lows, mortgage refinancing is coming on strong. But that additional revenue may not be enough to offset net interest margin pressures and lost servicing income.

The mortgage agency has hired Eric Blankenstein, who sparked controversy while at the consumer bureau over past revelations of racially charged writings.

Freddie Mac exchanged existing bonds from its portfolio for mirror certificates for the first time, completing a key test that is central to the creation of a uniform mortgage-backed security.

HomeStreet Bank will attempt to sell its stand-alone mortgage business and portfolio of servicing rights, a move that comes amid growing pressure from an activist investor to exit home lending and concerns about declining demand and regulatory challenges.