Items Tagged with 'Net income'

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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  • 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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  • 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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  • 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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  • Citi’s slightly higher earnings pulled down by mortgage revenue in Q1

    Causes retail banking to increase just 4%
    Citigroup reported Friday a slight increase in its earnings from last year, but this was not thanks to its mortgage banking revenues, which actually pulled earnings down slightly. While the bank doesn’t say much on its mortgage activity, Citi did report that if it excludes mortgage revenues, its retail banking revenue increase doubles.
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  • Citigroup reports net loss in Q4 due to tax reform

    Citi mortgage improvements push net credit losses down $30 million
    Citigroup reported a net loss during the fourth quarter of 2017 after taking a hit from the Tax Cuts and Jobs Act. Tax reform caused the bank to pay $19 billion related to the re-measurement of its deferred tax assets arising from a lower U.S. corporate tax rate.
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