Ocwen Chairman Erbey resigns as company admits misconduct

Ocwen Chairman Erbey resigns as company admits misconduct

Company to pay $150 million to homeowners

Existing home sales collapse 6.1% in November

Tumble comes amid record low declining rates, prices

Monday Morning Cup of Coffee: Oil’s crash will impact MBS market

Mortgage fraud is still a problem, plus the gift of housing metrics
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Items Tagged with 'Net income'

ARTICLES

PennyMac’s mortgage lending business witnesses strong 3Q

Net income rises 8%
Brena Swanson
It was a strong quarter for PennyMac Financial Services, posting strong growth momentum in its mortgage banking businesses, including consumer direct lending, which is making increasing contributions to its production revenue.
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Realogy Holdings beats earnings expectations

Hits $1.5 billion net revenue
Brena Swanson
"Our third quarter Adjusted EBITDA matched the third quarter of 2013, even in the face of difficult comparisons from the same quarter last year, which we believe was bolstered by accelerated home closings in a rising mortgage rate environment,” said Richard Smith, Realogy's chairman, CEO and president.
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Goldman Sachs records strong 3Q earnings

Net income rises 48%
Brena Swanson
Goldman Sachs Group was next on the earnings calendar, with its third-quarter net income surging 48% and posting the first revenue gain in over a year.
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Citigroup 3Q revenue jumps to $19.6B

Beats analyst expectations
Brena Swanson
Citigroup reported an increase in its third-quarter earnings, with its revenue beating analyst expectations and rising to $19.6 billion.
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Is Wells Fargo looking at another banner year?

3Q residential mortgage growth on track
Jacob Gaffney
Last year, Wells Fargo originated and serviced the most residential mortgages in the United States. The big bank has dominated the residential space for years now. But how long can its dominance last?
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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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