BofA reaches $16.65B settlement over "toxic waste" mortgages

BofA reaches $16.65B settlement over "toxic waste" mortgages

Loans date back to Countrywide and Merrill Lynch

KBRA: More smoke than fire in Ocwen’s restated earnings

Cautions that MSR transactions could see more regulatory scrutiny

Truth is, those recent housing numbers aren't so shiny

Housing starts? More like housing stops, amirite?
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Items Tagged with 'Net income'

ARTICLES

Despite mortgage reductions, Huntington earnings rise

Mortgage-banking income fell $11 million
Brena Swanson
Huntington Bancshares posted a second-quarter net income of $165 million, up $14 million, or 9%, from last year. However, mortgage-banking income fell $11 million, or 33%, reflecting a 49% reduction in originations and secondary marketing revenue.
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Stonegate Mortgage misses expectations but retail originations nearly double in Q1

Retail originations increased from $131.9 million to $260.9 million
Ben Lane
"Despite contracting industry volumes in the first quarter, we were pleased with our continued growth in originations and lock volumes," said Jim Cutillo, Stonegate’s chief executive officer.
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Despite 1Q earnings falling, Goldman Sachs beats estimates

Brena Swanson
Goldman Sachs reported that its first-quarter net income decreased 10%, posting a net income of $2.03 billion.
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U.S. Bancorp's mortgage revenue sliced nearly in half

Earnings hampered by mortgage fluctuations
Brena Swanson
Despite recording signs of strong new lending activity, the slight uptick in mortgages still came up short in U.S. Bancorp’s first quarter earnings, offsetting any potential growth as mortgage banking revenue tumbled.
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Wells Fargo first quarter mortgage originations way down

Making money on MSRs
Jacob Gaffney
During the first quarter, residential mortgage originations were $36 billion, down from $50 billion in fourth quarter 2013 while the gain on sale margin was 1.61%, compared with 1.77% in the fourth quarter.
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Realogy Holdings closes 2013 with strong earnings

Company profits boosted from adding franchises, closing acquisitions
Brena Swanson
Realogy Holdings witnessed a strong year in 2013 as it recorded net revenue for full year 2013 of $5.3 billion, a 13% increase compared to 2012. And that was not the only area that posted growth.
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Stonegate Mortgage originations increase 152%

Lender navigates tough year with strategic acquisitions
Brena Swanson

Stonegate Mortgage not only overcame the challenging market conditions during the second half of 2013 but also posted a strong increase in originations and its servicing portfolio due to several strategic acquisitions.


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Originations save Blackstone Mortgage Trust 4Q earnings

Total loan origination portfolio reaches $2 billion
Brena Swanson
New York based Blackstone Mortgage Trust recorded a net income for the full year of $15 million, or 81 cents per share, driven by significant growth in the loan origination portfolio.
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First American Financial revenue falls to $1.2 billion

Refinance activity, closed title orders drop to lowest year level
Brena Swanson
First American Financial Corporation’s total revenue for the fourth quarter of 2013 hit $1.2 billion, a decline of 4% compared to a year prior as it deals with a drop-off in refinance activity and closed title orders falling to the lowest level of the year.
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Stewart earnings down amid mortgage services transformation

Company bottomline not reflective of new contract closings
Brena Swanson
The company entered into new contracts during the third and fourth quarters of 2013, and once fully implemented, those will result in additional revenues in the first half of 2014.
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