today. morning, Thanks, Dico. joining the everyone. Thanks for Good call
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portion servicing bulk With the that transaction. of
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case final is grant Any judgment dependent the following in court's the ordered appellate judgment entered favor summary Lastly, been the has of CFPB's CFPB on the of closed And Auckland. action litigation. the in filing. further
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X, Moving and market maybe a on Slide bit about little the competitive environment. to
from look, dynamic quarter. the origination Fannie at materially so terms swiftly average average it's rates been MBA* a the forecasts of of total the quarter, not at Mae, from with XXXX, beginning Mac the the interest and first are the of industry more of the really the Freddie different current than rising forecast far, in of quarter. beginning volume So The in estimates industry
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terms in origination higher rate competition.
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are We seeing that.
expect we beneficiaries in perhaps are in the likely margins are than increased So first will M&A June dynamics contracting to that bit margin levels, relative in quarter. activity our expectations continue. M&A-related activity cover anticipated. to interest of driving and MSR the Certainly, moment. were is performance Market a a consistent the bulk We market. swiftly do more with rate
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loss we forbearance ready serve are to XX% least at and those borrowers We require will mitigation, remaining continue expect consumers. on to of plans
to opportunity think a strength mortgage see in the continue we market. reverse for Lastly, long-term the great great it's We company.
volume really there well in and margins as first quarter performed Our the industry high. relatively remained platform levels
Moving We driving growth and objectives on purpose for Slide speed X We're to profitability last with and goals. to on outlined deliver and focus operating our X. quarter XXXX.
Based successful for our balance the strong on our well to XXXX. profitability in from forecast we of achieve for team goals is first we plans executing these year, execution seeing what execution the the are quarter, objectives. industry on of assuming track and and believe making we achieve we're our Our against progress
Let's performance against our get of into some these objectives.
So let's Slide move to X.
pleased correspondent We're really team high the transactions announced the last members Capital with acquire with the we a we welcome track their PHH bulk excited approximately into As to their week, family. MSRs. proven business lending $XX billion operations. we're and record, business has quality Bank of Texas disclosed correspondent to in Their
margin, servicing this stand-alone accelerates best platform with correspondent portfolio. our portfolio levels, Based quarter of is our for know into the market.
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portfolio If in we're with volume XXXX, you MAV, once agreement about an This agreement restructured TCB was as fourth is a of into with in of expected $XX fund MAV announced $XX talking recall, subservicing to the announced MSR we billion previously had TCB.
We we subservicing the entered quarter expect the UPB. billion transaction implemented. into do here ultimately
trusting and collaboration strategic I going it So TCB on a their Texas for these partnership their hands for partner Capital Ocwen. portfolio can't forward this important a Look, forward. thank portfolio completing great our we'll in will want thank as portfolio, I have them for well. and enough subservice remain in opportunities agreements. to X is going recapture team And Bank
targeting channel. is And deal and a great to us to correspondent transaction the in believe for higher-margin in great segments into are a I the entry close business quarter. our second grow We for really way accelerate these this transactions look, us.
It's
looking to breadth capabilities for monitoring like are and expand this We our reach. of market, constantly the opportunities further
of A first We're on growth results our team little strong all about during objectives. really the to well on the Page plans. delivered executing Moving X. Again, our dimensions origination bit quarter.
for That in XX% bulk said additions. executed customary with TCB financing. of before leverage servicing LOIs purchase just sort to quarter total negotiation additions we consistent does our We were include roughly subject and are are closing servicing conditions, including expectations, cash MSRs bulk $XX of IRRs hedge expanding MSR So we generally agreements, the all-in the typical, our approvals, billion various billion, $XX discussed. The as transaction for conditions, on a the LOIs costs.
strength bult originations optimizing of on are flow in the our channels. market, origination margins we focused Given our
should compressing average origination total clients. We As -- with in customers and total our to grow due to base, volume moment, direct-to-consumer the despite will first corresponding our approved a due of the our I sellers XXX client TCB say, higher to share shift quarter our in expected increased correspondent mix addition did actually market June and in channels. margins margins expected as retention
year-end seller We're focus also Today, to addressable our we increasing another we market. We're market. on we're is target over roughly segment. Here expanding GSE our correspondent exclusively area XX% where serve -- focused generally mandatory on delivery XXX. the of almost today,
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Co-issue approval did addition, Ginnie our participate the flow program. the program called PIIT receive Mae In in to we Ginnie Mae
So and in be that launched. that we're excited quarter. to second get the started launching We'll
again, is executing on The fronts. our team team here, about So excited all originations momentum the has. well
our expand growth and base and really Our services objectives. new achieve helps our actions to profitability us client new products,
performance Again, Funded the continued the to volume XX%, first Turning X. platform. XX% and here team update volume and Page increased recapture dollar in unit quarter. fourth delivered An over respectively, the quarter. loans, improvement on the
is to recapture due this points about of up compared X.X sales XX% to as lot and about our capacity. Our fourth percentage the A actions increase to was quarter. to rate operating
levels year, As from XXXX. we new place increased as we benefited hires well the XX% capacity the during about Staffing we of productivity largely as constrained. half from talked last second by we levels put the in were improved
up. productivity as they mature So goes in comfortable and and more position, confident get they
just the against given the got recent in but We LOIs. we've levels, as as We rates, are well, now. of executed to evaluate balance to interest bulk staffing that increase continuing
add the of boardings anticipation eligible as continuing in second the populations recapture staff MSR to in for quarter they are represent We bulk us.
bit of on little Moving platform. servicing Slide a XX, here our update an to
customer on our servicing We achieve of operating opportunities our utilize and to are out driving there So our X technology and data; substantial laser-focused experience. believe here further we improve cost operating to platform, to technology our digital cost automation. being: platform. We're are position, execution applications; infrastructure; those objectives, and building elements
many remote for telephony a foundation infrastructure location-agnostic Infrastructure drive in capital application our in and word, From our employees perspective, support enabled is -- for workforce cloud-based, if This is that's customers our infrastructure efficiency has markets application technology of our and model servicing user supporting streamlined and origination, satisfaction. and resulting engagement our "variablized", we've an a capacity. our XXX% improve business. scalable investing in our core interfaces functions business creating we're and modernized to has
releases You've app press probably website. recent mobile from our us seen and about
is engagement. we again, So continuing improve everything do. to the at invest Data of core experience to and the
analytics. data on our controlling the focused the utilization our are optical rules data data We automating through through engines character recognition, through improving integrity automated ingestion predictive of of and
more our journey, process automation. technology roadmap our One areas is in the around of exciting technology robotic
our automate our business them We've currently XX expanding for have as to well digitalize business XXX over to to lean an our model developed excellence activities. us automated further related as across an helps development which recognition efficient of underway automation our reengineering scale teams. tools bots up.
We're power over as really build platform projects and chat who a We They've up we aggressive business lean QC and generally digital helped and voice across drive as team with end-to-end. and it is pursuing own and platform, as business leveraging our are our to across agenda. and technology and well process We service of our center operating processes robotics the platform voice robotics partners exciting voice continue
operating are costs. efforts reduce Our technology helping to
center, our taking continues improvement call our about performance here, X.X% execution You've are in operating seen servicing industry the for measured first or the solid progress particularly to for servicing down are past. And Net the team, average And we versus year again, by Promoter outperform against average MBA. in quarter that as making costs goal. full NPS, the XXXX. in And Score our
and our So teams. again, great servicing here by technology operating execution
Moving on to Page XX.
necessary servicing of We've EDO built execution expectations. expand with our to the track are for track on estimates. actions Our are Mae far our Ginnie thus generally Modifications foundation revenues with tracking or the objectives. on
-- on year the for full actually right extending Despite we for we're now, estimates. believe track, for borrowers,
of in continuing half our we're third in the to rights second prepare XXXX well, transactions it assist we our necessary valuation. call As executing parties the and in for to bought
I right estimates for we're targeted optimize to economics. on getting population we're with to continue And We again, the here, track make sure our the rights. think call
it performance for turn June to financial I'll quarter. that, our now With run to the over through
