Finance of America turned a profit in the first quarter following two consecutive periods of losses. Processing Content The Texas-based reverse mortgage company posted a net income of $35 million last quarter, a significant jump from the $21 million loss recorded in the fourth quarter, but still well below the $80 million it made in […]
Finance of America returns back to profit in first quarter Read More »
Higher pretax income from its originations business in the first quarter versus comparative period was offset by lower earnings related to servicing for PennyMac Financial Services. Processing Content The company reported net income of $82.3 million for the first quarter. This compared with $106.8 million for the fourth quarter and $76.3 million for the first
PennyMac 1Q profit falls as servicing drags on results Read More »
Loandepot slipped deeper into the red to start the year as executives blamed the firm’s performance on market volatility and tighter margins from the product mix shift over the winter. Processing Content The lender and servicer Tuesday posted a $54.9 million net loss for the first quarter, widening losses of $32.8 million and $40.7 million
Loandepot blames Q1 loss on market volatility, product mix Read More »
Figure Technology Solutions announced its second partnership over the past month, this time with an AI-powered working capital company focused on expanding and democratizing access to financing for small- and medium-sized businesses. Processing Content The collaboration with Credibly will help Figure grow its presence in the SMB lending space, one of the company’s fastest growing
Figure partners with Credibly to expand SMB lending Read More »
Key takeaway: Federal Reserve Gov. Michael Barr said rising energy costs — already rising in part due to increased electricity demand from data centers — could be made worse by the Iran war, but how much worse depends on how long the Strait of Hormuz remains closed. Expert quote: “The most immediate effect is a
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Despite ongoing growth in net interest income, economic concerns surrounding the Iran War contributed to a first-quarter loss for Angel Oak Cos.’ publicly traded real estate investment trust, company leaders said. Processing Content The lender, which specializes in buying and selling non-qualified mortgages in secondary markets, posted a GAAP loss of $7.4 million in the
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CrossCountry Mortgage has put out its own response to the latest statements from UWM Holdings regarding the financing conditions of their respective offers for Two Harbors. Processing Content UWM has made a cash or stock offer, but only the cash portion is for a set price of $12 per share. Meanwhile Two Harbors has an
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US new-home sales rose in March by more than forecast as the median selling price slid to a more than four-year low and builders offered incentives. Processing Content New single-family home sales increased 7.4% from February to an annualized 682,000 pace, the fastest this year, according to government figures out Tuesday. The median estimate in
New-home sales increased in March to fastest pace of year Read More »
Rocket Pro is extending a key pricing incentive for mortgage brokers through May while also expanding its non-QM product offerings, moves aimed at helping brokers close more loans in a challenging housing market. The moves are part of the February 2026 promise the Detroit-based company made to its business partners: a “Power Play” announcement on
Rocket Pro extends 100 bps broker credit into May Read More »
Former Benchmark retail president Marty Preston has joined Rate’s profit and loss platform after evaluating more than 20 lenders, the company announced on Tuesday. Preston moves to Rate from Benchmark, where he most recently served as president of retail and division president. At Benchmark, he grew his production team from about $200 million to more
Marty Preston moves to Rate to run profit and loss platform Read More »