“At the same time, I’m particularly encouraged by the strong underlying operational momentum across our platform, highlighted by the meaningful increase in our recapture rates,” he added. The company said higher mortgage rates reduced refinance activity during the quarter, although its refinance recapture rates improved. Spector said the company’s technology investments were helping streamline its production operations and reduce costs without limiting capacity or affecting the customer experience. “Importantly, our recapture rates improved meaningfully in the second quarter, positioning us to capture significant upside when the origination market expands,” he said. “This deployment is already directly benefiting customer engagement and retention,” Spector said, citing the improved refinance recapture rates in both conventional and government channels.