Homebuilder Lennar reported strong third-quarter earnings amid positive industry reports on builder confidence. "Our core homebuilding business continues to drive earnings, with strong sales, deliveries and margins," Stuart Miller, CEO of Lennar Corporation, said.
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.
A wide range of companies making the 2014 HW Fast50 suggests that — are you ready for this? — maybe things aren't as bad in the U.S. mortgage and housing markets as some breathless press might otherwise suggest. After all, our rankings this year include mortgage insurers, investors, loan servicers, technology specialists and dot-coms, home builders, real estate services companies, mortgage bankers and more..
Last October, HousingWire highlighted several correspondent lenders and gave a broad overview of where this division of mortgage finance was heading. We are happy to report that those lenders are still doing a robust set of business, although the road remains no less rocky. But as we said last year, at least there’s a road to begin with. Read More
As our business moves into a new era of low profitability, increased expenses, and intense regulatory scrutiny, virtually every mortgage executive needs to experiment with ways to increase productivity and CFPB compliance while reducing overall operating costs. Read More