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Earnings

Impac Mortgage teeters on collapse amid audit, data breach

Earnings, Law and legal issues /

Impac Mortgage Holdings is on the verge of going out of business, according to a new audit. Processing Content The Southern California–based mortgage firm revealed its dire situation via an independent audit from Baker Tilly published Friday to the over-the-counter Open Market exchange. Once regularly a billion-dollar originator, the company’s books today are upside-down, with […]

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Fifth Third CEO on Comerica integration: So far, so good

Consumer banking, Earnings, Fifth Third Bancorp, M&A /

Key insight: Fifth Third is optimistic that its acquisition of Comerica will deliver even better results than it previously expected. But there’s still important work ahead, as the systems conversion is slated for Labor Day weekend. Supporting data: The company plans to deliver $360 million of net cost savings this year, and to reach an

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Chase, Wells mortgage slump: what it means for non-banks

Earnings, JPMorgan Chase, MARKETING TO BORROWERS, Mortgages, Originations, Secondary markets /

Quarter-to-quarter mortgage production at both JPMorgan Chase and Wells Fargo fell by about 2.5 times more than what the Mortgage Bankers Association is predicting for the industry, a Keefe, Bruyette & Woods flash note commented. Processing Content The MBA’s March forecast called for $1.46 trillion in volume for the first quarter, with just a $21

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UWM tried for its first acquisition, then its stock fell and the math stopped working

Earnings, HWmember, LendingLife, Mergers and Acquisitions, Mortgage, MSRs, Servicing, Two Harbors Investment Corp., United Wholesale Mortgage /

When UWM Holdings Corp. lost its bid last week to acquire Two Harbors Investment Corp. (TWO), upstaged by an offer from rival CrossCountry Intermediate HoldCo, analysts were not entirely surprised. “It was such a wild turn of events,” said Eric Hagen, an analyst at BTIG. “But we were not surprised that it broke up.” The

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Ashton Woods puts pace over margin in a choppy housing market

Earnings, Homebuilders, Leadership, The Builder's Daily /

In today’s challenging homebuilding environment, builders are often presented with a lesser-of-evils choice: maintain a strong sales pace at the expense of slimmer margins, or sacrifice market share in favor of higher profitability.  Multi-regional private homebuilding powerhouse Ashton Woods chose the former, increasing its community count and maintaining its sales and closings pace, according to

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Contrarian Smith Douglas leans into its system, goes for market share

Earnings, Homebuilders, Leadership, Residential Real Estate, The Builder's Daily /

Uncertainty, margin compression and the gut-check math of affordability are the givens of a new-home market impatiently waiting for relief on at least one of those three fronts.  Most public homebuilders – facing this indefinite limbo – are doing the same thing: slowing down. Production starts are throttling down. Spec inventory is being sold down.

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Lennar profit drops 56% amid rates, Iran uncertainty

Earnings, Homebuilders, LOAN PRODUCTS, Originations, Politics and policy, REALTORS & HOMEBUILDERS /

Lennar’s management is working through the various challenges facing homebuilders: not just the Iran conflict, but also the antipathy against institution investor purchasers. Processing Content In its first fiscal quarter, which ended on Feb. 28, Lennar earned $229 million, less than half of the $520 million it made for the same period in 2025. The

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Better lost $40M. Its CEO has never been bolder

Better.com, Earnings /

Better Home & Finance is shedding its direct-to-consumer identity as it leans on artificial intelligence to push it out of a long financial slump. Processing Content The now self-described AI-native mortgage platform on Friday promoted growth opportunities from bigger deals, including a new partnership with an unnamed, top-5 nonbank originator. Exuberant founder and CEO Vishal

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FOA reports another loss in Q4, still profits in 2025

Capital markets, Earnings, Originations, Reverse mortgages, Secondary markets /

Finance of America posted another net loss in the fourth quarter, but saw significant profit increases for 2025 as a whole. Processing Content The reverse mortgage company reported a $21 million loss from continuing operations in the fourth quarter, a $7-million improvement from the previous quarter, FOA revealed on an earnings call Tuesday. On an

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LoanDepot bets on refi wave with wholesale return

Earnings, Industry News, loanDepot, Originations, Wholesale lenders /

One day after announcing plans to reenter the wholesale lending business, LoanDepot said the move reflects its expectation that refinance activity will drive origination growth across multiple channels. Processing Content “Getting back into wholesale, which is a business that we were in previously, is going to allow us to achieve greater scale,” said CEO Anthony

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