Items Tagged with 'Earnings'

ARTICLES

  • It’s official: Mr. Cooper to acquire Pacific Union Financial

    Plans expansion into wholesale, correspondent lending
    In conjunction with its earnings release on Thursday morning, Mr. Cooper Group announced it would acquire mortgage company Pacific Union Financial. The company announced the acquisition will increase its servicing holdings by about $25 billion, and its originations by $10 billion annually.
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  • Fannie Mae multifamily earnings increase in stable market

    More than 90% of financing directed to low-income housing
    Fannie Mae announced its third-quarter financial earnings on Friday, showing its multifamily sector posted solid gains. The company explained this increase was due to a rise in guarantee fee revenue as the multifamily guaranty book grew during the quarter, and about 90% of its multifamily financing created affordable housing for low-income families.
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  • Freddie Mac reports income of $2.6 billion in Q3

    Expected to pay $2.6 billion to Treasury
    Freddie Mac reported Wednesday it posted a comprehensive income of $2.6 billion in the third quarter of 2018. However, the company reported its single-family origination volumes decreased by 6%. FTN Financial Group analyst Jim Vogel highlights that the current system has become dependent on outside capital.
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  • Freddie Mac reports income of $2.4 billion in Q2

    Set to return another $1.6 billion to Treasury
    Freddie Mac reported Tuesday it posted a comprehensive income of $2.4 billion in the second quarter of 2018. The company explained the reason for its strong second quarter results, including a nearly 30% increase in mortgage originations from the second quarter last year.
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  • Mortgage insurance companies report surge in Q2 earnings

    Recent changes seem to work well for business
    Mortgage insurance companies have had a busy year with many unprecedented changes, and the most recent earnings report shows those changes are paying off. This year, MI companies upped their game, growing more competitive against the FHA and one company even saw a record high in new insurance written.
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  • CoreLogic acquisition spree pushes earnings higher in Q2

    Sees profitable quarter despite drop in mortgage activity
    Recently, CoreLogic, a property information, analytics and data-enabled services provider, has been on a roll when it comes to acquisitions; for this reason, it comes as no surprise the company reported an increase in earnings in the second quarter of 2018.
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  • Fake accounts scandal still curbing Wells Fargo earnings

    Mortgage banking revenue falls in Q2
    Wells Fargo’s latest earnings report shows the bank continues to struggle with its fake accounts scandal, which began back in 2016. And not only did the bank report a lower net income, but the latest earnings report shows it also continues to struggle with mortgage banking revenue, even as originations increase.
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  • S&P banks index sees best day since March

    Investors anticipate positive bank earnings
    The Dow Jones and S&P 500 each posted significant gains on Monday as investors prepare for the big banks to report their second quarter earnings later this week. The S&P banks index increased by 2.7%, its greatest daily increase since March 26, 2018. But this may not mean good numbers for mortgage banking revenues.
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