Re/Max Holdings recorded better-than-expected second-quarter revenue as it continued to grow its pool of real estate agents. The real estate company reported a profit of $4.4 million, or $0.36 a share.
Ocwen Financial Services Corp. said it would restate earnings because of accounting problems, after its auditor found what may be "a material weakness'' in the way it recorded the value of certain debt.
Before the financial crisis, the average FICO score hovered near 708. During the crisis, in 2007, the average came in around 693. Now in 2014, the average FICO is much higher, posting an average of 744 for Fannie and 742 from Freddie. So what is the perfect balance?
Fannie Mae recorded a net income of $3.7 billion for the second quarter of 2014. The decline from the prior quarter is primarily due to a decline in the amount of income recognized by the company from settlement agreements related to private-label mortgage-related securities.
Impac Mortgage Holdings reported second-quarter net earnings of $82 thousand or $0.01 per diluted common share after reporting a net loss last quarter, and it was one key element that helped drive lending volume forward.
Our exclusive chat with Nationstar CEO Jay Bray follows up on his March profile in HousingWire magazine, where he explained the structure of the company and how it could reorganize to meet the challenges of the mortgage markets. The company's 2Q results prove Bray was right all along.
Realogy reported second-quarter net income of $68 million and basic earnings per share for the quarter of $0.47, beating estimates by $0.03 and outperforming the high end of its previously announced guidance range.
"We remain excited about the recurring nature of the revenue, the market positioning of our product offerings, the significant organic revenue growth opportunities and the strong EBITDA margins that Black Knight brings to FNF," said Chairman William Foley.
Melvin Luther Watt quietly slid into his office as the first appointed director of the Federal Housing Finance Agency. It was the end of last year, in mid-December. Christmas was coming and the markets were in the middle of the harshest winter in years. As he took over the office of Acting Director Ed DeMarco — himself the unassuming lightning rod for the nation’s housing policy — Watt gave no indication of what he intended to do with his new position; arguably the most powerful job in mortgage finance..
Crowdfunding has swept through large verticals of consumer finance, including student loans and credit card debt. And so, naturally, in a market of rising property values, the real estate market is the latest frontier for crowd-based financing. Read More
Like oxygen, warehouse lending is one of the mortgage industry’s essential life-supporting elements. And fortunately, the warehouse segment is in much better health today than it was six years ago, as we are back up to around 70 warehouse lenders at my last count. Read More