Items Tagged with 'Earnings'

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Interest rates slightly dent Fannie Mae's first-quarter profits

Expects to pay $2.8 billion in dividends to Treasury
Fannie Mae started off the year profitably but still struggled to compete with the gains witnessed at the end of 2016. According to its first-quarter earnings, Fannie Mae’s net income came in at only a little more than half of what it posted in the fourth quarter. Regardless, the government-sponsored enterprise expects to pay Treasury a $2.8 billion dividend in June 2017.
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Zillow revenue hits record highs in first quarter

Surges by 32% annually
Zillow reported its first quarter earnings, showing revenues hit record highs. Site traffic also hit new highs, and the company updated its forecast for its full-year revenues. Now, if revenues hit the midrange of Zillow’s new forecast, it will represent an increase of 25% from 2016.
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Nationstar revenues plummet in first quarter

Net income barely breaks even
Nationstar’s income in the first quarter was led by its servicing department, however earnings still came in as a significant loss from last quarter. Net income, in fact, barely broke even as it came in at just $2 million, or $0.02 per diluted share.
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Radian: New mortgage insurance written jumps 25% in first quarter

Refinance share of mortgage insurance shrinks
Radian Group's new mortgage insurance written jumped 25% in the first quarter 2017, helping drive a strong start to the year. And that isn’t the only area Radian improved. The private mortgage insurer’s total primary mortgage insurance in force increased from last year, while its total number of primary delinquent loans decreased from last year.
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Goldman Sachs posts rare miss in first-quarter earnings

Bank lays low in residential mortgages
Goldman Sachs recorded a rare and unexpected miss in first-quarter earnings. The surprise caused the bank’s stock to fall to its lowest level in nearly five months. Goldman Sachs doesn’t have a huge footprint in residential mortgages, but it’s not completely out of the mortgage arena.
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Bank of America net income soars 40% in first quarter

But drop in mortgage income pulls down noninterest income
Bank of America saw tremendous growth in its net income in the first quarter with an increase of 40%. The company’s earnings per share also increased 46% from last year. However, a decrease in mortgage income created a drag on noninterest income for consumer banking.
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Nationstar revenue increases 45% in Q4

Net income increases nearly 500%
Nationstar finished 2016 with a bang, increasing its revenue by 45% and its net income by nearly 500%. But those aren’t the only increases the company saw during the fourth quarter. Nationstar’s CEO explains what this means for the company in 2017.
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