In tandem with its Q2 2025 earnings release, Blend Labs, Inc. announced that Jason Ream will join as the company’s Head of Finance and Administration. Ream, who has over 25 years of experience as a financial and operating leader in technology and software, previously served as the CFO of two public companies, SailPoint Technologies Holdings, […]
Blend Labs narrows Q2 losses, announces new head of finance Read More »
The disappointing spring home purchase season influenced the second quarter results of the publicly traded title insurance underwriters. Certain metrics were strong, with pretax title margins at three of the companies’ showing significant gains versus the second quarter. Stewart was up 630 basis points, First American reported a 530 basis point rise and Fidelity National
Title insurers see margins rise, sales still weak Read More »
loanDepot is making more leadership changes following the return of founder and majority stakeholder Anthony Hsieh as CEO. Tom Fiddler has been promoted to president of retail lending while Dan Peña will serve as president of partnership. John Bianchi, the executive vice president of retail production since 2019, will depart the company. These moves come
loanDepot shakes up leadership after Hsieh’s comeback Read More »
Pennymac is continuing to restructure its debt, pricing another offering this week. The correspondent leader priced $650 million of 6.750% senior notes due 2034 on Thursday. The company said it will use the proceeds to repay borrowings under its secured mortgage servicing rights facilities, other secured debt and general corporate purposes. The move follows two
Pennymac restructures more debt with $650 million offering Read More »
A takeaway from Blend Labs’ latest earnings is that, although it’s growing consumer banking broadly, the mortgage operations are the biggest investment theme in the short term, Keefe, Bruyette & Woods said. “The company’s expansion into consumer banking adds a new growth vector that should be synergistic with Blend’s mortgage client roster and positions the
Blend ‘turns corner’ and reduces GAAP losses in 2Q25 Read More »
loanDepot on Thursday reported that its second-quarter 2025 revenue increased by 3% to $283 million and adjusted revenue increased 5% to $292 million compared to the prior quarter. loanDepot’s first quarter saw the return of loanDepot founder and executive chairman Anthony Hsieh to the day-to-day operations at the California-based lender. The company’s second quarter marks the first quarter that Hsieh
With Hsieh in the driver’s seat, loanDepot posts revenue of $283M Read More »
Better Home & Finance Holding Co. announced its second-quarter 2025 earnings on Thursday. The company revealed that it’s still operating at a loss, but it showed clear improvement in the second quarter as revenue grew, loan volume rose and its tech offerings expanded. In its earnings call on Thursday, Better disclosed a $36 million net
Better’s losses are shrinking. It could break even by late 2026 Read More »
Some of Loandepot’s finances are moving in the right direction but the company remains mired in the red. The lender and servicer Thursday disclosed a $25 million net loss for the second quarter, after posting a $40.7 million net loss in the first quarter. It’s a marked improvement from last spring, when the company factored
Loandepot narrows losses as CEO Hsieh mulls turnaround Read More »
Guild Mortgage saw profits and business volume return to the upside in the second quarter in one of its final earnings reports issued as a publicly traded company. The San Diego-based lender and servicer posted net income of $18.7 million for the three-month period, improving from a $23.9 million loss at the end of the
Guild swings to profit ahead of privatization deal Read More »
UWM Holdings CEO Mat Ishbia’s new target for mortgage broker originations share is for them to do over half of production. On the company’s earnings call, he cited statistics giving the current broker share at 30%. “Our goal is for brokers to be No. 1,” Ishbia said. “In my mind, that means 50.1%; I don’t
UWM aims for broker-majority market amid 300% profit surge Read More »