loanDepot reported a smaller loss in the third quarter as higher loan volumes, improved margins and increased servicing income boosted its results. Revenue for the California-based mortgage lender rose 14% from the previous quarter to $323 million, while adjusted revenue increased 11% to $325 million. Pull-through weighted gain-on-sale margins rose 9 basis points to 339 […]
loanDepot’s Q3 loss narrows as revenue climbs 14% Read More »
Blend Labs Inc. shared its third-quarter earnings on Thursday afternoon, posting revenue of $32.9 million from July to September, down 1% on an annual basis. The company reported a GAAP gross profit margin of 74% in the third quarter, unchanged from the same period in 2024. Non-GAAP gross profit margin rose to 78%, up from
Blend Labs reports shrinking mortgage revenue even as its partnerships gain steam Read More »
Loandepot leadership said the company has set the course for profitability but still ended up in the red at the end of the third quarter, posting a loss for the fourth straight earnings period. The national lender reported a net loss totaling $8.7 million based on generally accepted accounting principles, with the total including fair-value
Loandepot touts growth trajectory after latest earnings loss Read More »
UWM Holdings had its strongest production quarter since the pandemic-fueled 2021, beating its own guidance, taking advantage of a brief window where rates fell in September. “Although I don’t know if you guys recognize it, but it was a dominant, dominant quarter,” Mat Ishbia, chairman, CEO and president said on the earnings call. The company
UWM posts best production quarter in four years Read More »
Onity Group posted its best quarter for funded loan volume and shed a troublesome subservicing portfolio, in another steady quarterly performance. The lender and servicer Thursday posted net income attributable to common shareholders of $18.7 million, down from the $21.5 million and $21.4 million profits of the quarter- and year-ago periods. Its latest adjusted income
Onity posts steady profit, sheds Rithm subservicing deal Read More »
Guild Mortgage reported higher profits and loan volume in the third quarter, likely marking its final earnings release as a public company before its merger with Bayview Asset Management. The company reported net income of $33.3 million in the third quarter, up significantly from a loss of $66.9 million during the same period a year
Guild’s profits and originations jump ahead of privatization Read More »
Reverse mortgage company Finance of America’s continuing operations took a net loss on a one-time adjustment in the third quarter, but it was profitable on that basis for the year-to-date, unaudited interim results show. The company reported a $29 million in net loss from continuing operations during the third quarter due to home price model
Finance of America reports 3Q loss, nine-month profit Read More »
In the time since Vic Lombardo became president of mortgage services at Remax Holdings over two months ago, the company has “taken a new view of the mortgage opportunity,” Eric Carlson, CEO, said in the third quarter earnings call. Among the units under Lombardo’s purview are Motto Mortgage, which offers mortgage broker franchises, and Wemlo,
Remax resets mortgage strategy under new division leader Read More »
Zillow Group posted $10 million in net income in the third quarter, turning around a $20 million loss from the year ago period, as its mortgage revenue rose 36% during the time frame. The growth in its mortgage line, which includes both Zillow Home Loans and the marketplace where consumers can search for rates, was
Zillow’s mortgage revenue up 36% on purchase volume growth Read More »
It has been a messy few months for Zillow Group, including a copyright lawsuit from CoStar, a class action consumer RESPA suit, and antitrust suits from both Compass and the Federal Trade Commission (FTC). While some of the listing portal giant’s competitors have said that it is a company of the past, Zillow executives are
Zillow focuses on consumers, agents to fuel future growth Read More »