Items Tagged with 'Mortgage Earnings'


  • Citi mortgage originations slashed in half in second quarter

    Continues to exit mortgage servicing
    To no surprise, Citigroup continued to pull away from mortgages, as shown in its latest second-quarter earnings. According to its earnings released early Friday morning, mortgage originations plummeted by more than half. The bank still performed well overall, with its EPS and revenue beating expectations.
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  • JPMorgan Chase 2Q17 mortgage banking revenue offsets overall boost in earnings

    Beats earnings expectations
    Despite a boost in net revenue compared to the second quarter of last year, lower mortgage banking revenue at JPMorgan Chase didn’t perform as well. As a result, the decline offset some of the bank’s overall increase in earnings. However, this didn’t stop the mega bank from still managing to beat earnings expectations.
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  • Ellie Mae revenue jumps 26% in first quarter 2017

    Despite industry mortgage volume declining
    Ellie Mae powered through industry declines in mortgage volumes and recorded a strong boost in revenue for the first quarter 2017. As industry wide mortgage volume declined by 34% from the fourth quarter, Ellie Mae managed to grow its revenue by 26% in the first quarter.
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  • Goldman Sachs posts rare miss in first-quarter earnings

    Bank lays low in residential mortgages
    Goldman Sachs recorded a rare and unexpected miss in first-quarter earnings. The surprise caused the bank’s stock to fall to its lowest level in nearly five months. Goldman Sachs doesn’t have a huge footprint in residential mortgages, but it’s not completely out of the mortgage arena.
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  • Impac reports best year in more than a decade

    Mortgage originations surge
    Impac Mortgage Holdings locked in a record financial year on Thursday, recording adjusted operating income of $96.9 million, or $6.52 per diluted common share, for all of 2016. This is significantly up from a year ago and a big contributor to this growth was purchase originations.
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  • Wells Fargo misses earnings expectations, continues to clean up after accounts scandal

    Wells Fargo CEO: “We have more work to do”
    Wells Fargo missed fourth-quarter earnings expectations as it continues to clean up from its massive fake accounts scandal announced back in September 2016. As one of the first banks to report and a major indicator for how the rest of the industry will perform, Wells Fargo recorded a boost in mortgage originations thanks to a huge uptick in refinance volume from last year.
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  • Ellie Mae posts first $100 million revenue quarter

    Beats capital consensus
    The record-breaking quarters for Ellie Mae are not slowing down. Once again, Ellie Mae reported record revenue, breaking the record that was set last quarter, which actually broke the record set in the quarter prior to that. This time, however, marks the first ever quarter that Ellie Mae posted more than $100 million in revenue.
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  • Fifth Third 3Q mortgage results positive sign for rest of industry?

    Average residential mortgage lending increases 10% year over year
    The mortgage market is projected to perform much better in the third quarter than originally expected. With the third-quarter results in for one of the first lenders, it looks like this could be true. Fifth Third Bancorp not only posted an increase in residential mortgage loan portfolio balances, but it also posted an increase in originations.
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  • Wells Fargo beats by a hair with $5.7B 2Q net income

    Mortgage originations rise to $62B; MSR portfolio at $1.7T
    Wells Fargo reported net income of $5.7 billion, or $1.03 per diluted common share, for second quarter 2015, compared with $5.7 billion, or $1.01 per share, for second quarter 2014, and $5.8 billion, or $1.04 per share, for first quarter 2015.
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  • PennyMac Financial Services 1Q net income hits $47.1M

    Sees substantial opportunity in mortgage production
    PennyMac Financial Services posted net income of $47.1 million for the first quarter of 2015, on revenue of $140.3 million. Looking ahead, the lender's CEO sees substantial opportunity in mortgage production, driven by continued low mortgage rates, the FHA's reduction of its mortgage insurance premium and limited origination capacity in the market.
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