Financial Data and Key Metrics Changes - Operating ROTCE for the quarter was 17.2%, an increase from 16.8% in the previous quarter, within the guidance range of 16% to 20% [3] - Net income for the quarter was $198 million, including $269 million in pretax operating income [17] - The capital ratio ended at 26.6%, up from 24.4% at year-end, attributed to strong earnings and the suspension of stock repurchases [22] Business Line Data and Key Metrics Changes - Servicing generated $332 million in pretax income, a 15% year-over-year increase, while originations produced $64 million despite high rates [7][12] - The servicing portfolio remained steady at approximately $1.5 trillion following the acquisition of Flagstar [9] - The company completed two home equity securitizations during the quarter, indicating strong momentum in home equity loans [13] Market Data and Key Metrics Changes - The company noted persistent high mortgage rates leading to affordability challenges and sluggish home sales, with home prices under pressure in some markets [5] - Delinquencies in the portfolio declined to 1%, reflecting strong asset quality [6][20] Company Strategy and Development Direction - The company is focused on integrating with Rocket and enhancing its platform, which includes launching a maiden MSR fund with $200 million in initial commitments [7][8] - Continued investment in AI solutions is aimed at optimizing operations and improving customer experiences [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's performance despite a challenging environment, highlighting consistent double-digit returns over the past two and a half years [5] - The company anticipates continued strong operating cash flow and robust liquidity throughout the remainder of the year [22] Other Important Information - The company was recognized as one of the best places to work in Texas, emphasizing its commitment to a purposeful and inclusive environment [6] - The corporate segment incurred $48 million in expenses, expected to remain at this level due to ongoing IT investments [18] Q&A Session Summary - No questions were taken during the call due to the pending merger with Rocket [2]