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.
One by one, they filed into the city council chambers. They took their seats and waited their turn, and once there weren’t any seats left, they moved to the seldom-used overflow seating. When the overflow seating filled, they moved to the civic center so they could watch the meeting on a closed-circuit feed..
It’s a new world, and in this new world, data is more crucial than ever. Getting the best data possible, and then being able to interpret that data to improve performance, will be a competitive edge that no company in the mortgage finance space can do without in the current environment of volume contraction. Read More
Only seven or eight years ago, mortgage fraud was one of the top stories in the industry. It was quite common to see stories estimating losses in the millions, with some experts suggesting that these numbers were only the tip of the iceberg. Lenders and their partners scrambled to strengthen their fraud-prevention strategies. Read More