Items Tagged with 'Earnings'

ARTICLES

  • 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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  • Fannie Mae reports comprehensive income of $3.9 billion

    Returns just $938 million to Treasury
    Fannie Mae reported an increase in its net income in the first quarter of 2018, rising from the loss last quarter that was driven by a remeasurement in the company's deferred tax assets from the recently passed tax reform legislation. Now, it is preparing to pay out $938 million to the Treasury.
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  • Freddie Mac Q1 earnings increase driven by tax reform

    Will not make payment to Treasury
    While tax reform may have forced the GSE to make a draw from the Treasury during the fourth quarter, this quarter, the tables have changed. Freddie Mac announced the changes to the tax law helped drive its first-quarter growth. But it’s still not making a payment to the Treasury. Here’s why.
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  • Is Bank of America taking its focus off mortgage lending?

    And who’s servicing its mortgages?
    Could Bank of America be taking a step back from its mortgage lending platform? Its new earnings report from the first quarter may hold the answer. A few years ago, the bank could easily report $1 billion per quarter in its mortgage banking income. However, in the first quarter of 2018, the income from this sector was so small that it was simply lumped into the section for all other income.
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