Increase in Rate Lock Volume and Origination Volume
The second quarter saw a 17% increase in pull-through weighted rate lock volume to $6.3 billion and a 30% increase in loan origination volume to $6.7 billion, indicating higher home buying activity and operational improvements.
Adjusted Net Loss Reduction
The company reported an adjusted net loss of $16 million, down from $25 million in the previous quarter, primarily due to higher lock volume and lower expenses.
Servicing Fee Income Growth
Servicing fee income increased to $108 million from $104 million in the previous quarter, reflecting an increase in the unpaid principal balance of the servicing portfolio.
Leadership Additions for Digital Transformation
The addition of Chief Digital Officer Dominick Marchetti and Chief Innovation Officer Sean DeJulia aims to drive digital transformation and innovation, enhancing technology-powered efficiency.