Lennar witnessed a strong third-quarter thanks to a growing demand for new homes. Not only did the homebuilder's net income for the three months through August hit $223.3 million, but it beat analyst estimates.
Luxury homebuilder Toll Brothers posted third-quarter net income of $66.7 million, down compared to net income of $97.7 million last year. However, Robert Toll, executive chairman, noted that the company is encouraged by recent positive reports.
The Home Depot is having a good day on the Street after it beat analyst expectations in the second quarter with sales of $24.8 billion for the second quarter of fiscal 2015, a 4.3% increase from the second quarter of fiscal 2014 - all despite the big credit card data breach last September.
Annaly Capital Management posted a second-quarter GAAP net income of $900.1 million, or $0.93 per average common share. Annaly’s CEO noted that this is a strong reminder of the positive impacts higher rates can have on earnings.
Freddie Mac reported a second-quarter net income of $4.2 billion, compared to $524 million for the first quarter of 2015 — a more than 700% increase in a single quarter. This is sure to raise more questions about proper CEO compensation and the ongoing conservatorship. Read on.
Nationstar Mortgage Holdings reported quarterly net income of $75 million, or $0.69 per share, for the second quarter, compared to net loss of ($48) million, or ($0.53) per share, in the first quarter 2015. Want to know more?
Radian Group posted second-quarter net income of $50 million, a drop compared to last year’s second quarter net income of $174.8 million. However, once adjusted, its diluted net operating income per share for the quarter was $0.4, which beat analyst expectations by $0.05.
Bank of America recorded a second-quarter net income of $5.3 billion — more than double that of last year — driven by solid core loan growth, higher mortgage originations and the lowest expenses since 2008.
The darlings of 2014, the single-family housing investment and rental businesses, didn’t dominate like last year, but they still had a strong showing. After snagging four of the top five spots on the 2014 HW Fast50, two SFRs placed in the top five in 2015 and three made the top 50..
Bank loyalty is not a factor for borrowers in shopping for a mortgage loan. Borrowers tend to select a mortgage originator based on product, price and their expectation for a convenient transaction process. Read More